When a Qualified Investment is Made

The credit shall be allowed for the taxable year in which the qualified investment is made by a taxpayer. A qualified investment is made at the time delivery of the qualified investment by a taxpayer to a community partner or community partnership fund is “effected,” as that term is used in Treas. Reg. § 1.170A-1(b). Accordingly, for example, the unconditional delivery of a cash contribution or mailing of a check by a taxpayer, which subsequently clears in due course, to a community partner or a community partnership fund shall constitute an effective qualified investment by the taxpayer on the date of delivery or mailing.