When does the 30-day period for filing the donor's tax return start?

The 30-day period for filing the donor's tax return begins on the date of acceptance of the donation. This is significant because the acceptance indicates the donee's agreement to receive the property; it is at this point that the transaction is considered complete, and the tax implications arise for the donor.

Understanding this timeline is essential for both donors and tax professionals, as it establishes the clear bounds within which the donor must fulfill their tax obligations related to the gift. Other potential starting points, such as when the property is delivered or when it is used by the donee, do not provide the same clarity on the completion of the donation process, as these events can vary significantly and may not directly relate to the legal acceptance of the donation. Therefore, the date of acceptance serves as the definitive point for initiating the 30-day filing requirement.