[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.642(c)-4]

[Page 27]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.642(c)-4  Nonexempt private foundations.

    In the case of a trust which is, or is treated under section 
4947(a)(1) as though it were, a private foundation (as defined in 
section 509(a) and the regulations thereunder) that is not exempt from 
taxation under section 501(a) for the taxable year, a deduction for 
amounts paid or permanently set aside, or used for a purpose specified 
in section 642(c) (1), or (2) shall not be allowed under Sec. 1.642(c)-
1 or Sec. 1.642(c)-2, but such trust shall, subject to the provisions 
applicable to individuals, be allowed a deduction under section 170 for 
charitable contributions paid during the taxable year. Section 642(c)(6) 
and this section do not apply to a trust described in section 4947(a)(1) 
unless such trust fails to meet the requirements of section 508(e). 
However, if on October 9, 1969, or at any time thereafter, a trust is 
recognized as being exempt from taxation under section 501(a) as an 
organization described in section 501(c)(3), if at such time such trust 
is a private foundation, and if at any time thereafter such trust is 
determined not to be exempt from taxation under section 501(a) as an 
organization described in section 501(c)(3), section 642(c)(6) and this 
section will apply to such trust. See Sec. 1.509 (b)-1 (b).

[T.D. 7357, 40 FR 23742, June 2, 1975; 40 FR 24362, June 6, 1975]