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True or False? When a donor makes a charitable contribution during his lifetime there is an...

True or False? When a donor makes a charitable contribution during his lifetime there is an unlimited gift tax charitable deduction and an unlimited income tax charitable deduction in the year that the gift is made.

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When a donor makes a charitable contribution during his lifetime, The amount of deduction is only limited to the the over-all amount of charity made and it is never unlimited in nature either from the perspective of gift tax or income tax.The amount of deduction is always limited so this statement is completely False.

It is a FALSE statement based upon the above-mentioned reasons.

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