Browse Bills

There is one summary for this bill. Bill summaries are authored by CRS.

Provides that in the case of a charitable contribution of inventory, by a corporation or by an association taxable as a corporation, to an organization operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, and exempt from taxation, the income tax deduction under the Internal Revenue Code for such contribution shall be reduced by only half the reduction required as the amount of gain which would not have been long-term capital gain if the property contributed had been sold by the taxpayer at its fair market value. (Amends 26 U.S.C. 170(e))

There is one summary for this bill. Bill summaries are authored by CRS.

Provides that in the case of a charitable contribution of inventory, by a corporation or by an association taxable as a corporation, to an organization operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, and exempt from taxation, the income tax deduction under the Internal Revenue Code for such contribution shall be reduced by only half the reduction required as the amount of gain which would not have been long-term capital gain if the property contributed had been sold by the taxpayer at its fair market value. (Amends 26 U.S.C. 170(e))

There is one summary for this bill. Bill summaries are authored by CRS.

Provides that in the case of a charitable contribution of inventory, by a corporation or by an association taxable as a corporation, to an organization operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, and exempt from taxation, the income tax deduction under the Internal Revenue Code for such contribution shall be reduced by only half the reduction required as the amount of gain which would not have been long-term capital gain if the property contributed had been sold by the taxpayer at its fair market value. (Amends 26 U.S.C. 170(e))

There is one summary for this bill. Bill summaries are authored by CRS.

Provides that in the case of a charitable contribution of inventory, by a corporation or by an association taxable as a corporation, to an organization operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, and exempt from taxation, the income tax deduction under the Internal Revenue Code for such contribution shall be reduced by only half the reduction required as the amount of gain which would not have been long-term capital gain if the property contributed had been sold by the taxpayer at its fair market value. (Amends 26 U.S.C. 170(e))