I.R.C. § 170(a) Allowance Of Deduction
I.R.C. § 170(a)(1) General Rule —
There shall be allowed as a deduction any charitable
contribution (as defined in subsection (c))
payment of which is made within the taxable year. A charitable contribution
shall be allowable as a deduction only if verified under regulations
prescribed by the Secretary.
I.R.C. § 170(a)(2) Corporations On Accrual Basis —
In the case of a corporation reporting its taxable
income on the accrual basis, if—
I.R.C. § 170(a)(2)(A) —
the board of directors authorizes a
charitable contribution during any taxable year, and
I.R.C. § 170(a)(2)(B) —
payment of such contribution is
made after the close of such taxable year and on or before the 15th
day of the fourth month following the close of such taxable year,
then the taxpayer may elect to treat
such contribution as paid during such taxable year. The election
may be made only at the time of the filing of the return for such
taxable year, and shall be signified in such manner as the Secretary
shall by regulations prescribe.
I.R.C. § 170(a)(3) Future Interests In Tangible Personal Property —
For purposes of this section, payment of a charitable
contribution which consists of a future interest in tangible personal
property shall be treated as made only when all intervening interests
in, and rights to the actual possession or enjoyment of, the property
have expired or are held by persons other than the taxpayer or those
standing in a relationship to the taxpayer described in section 267(b) or 707(b). For purposes of the
preceding sentence, a fixture which is intended to be severed from
the real property shall be treated as tangible personal property.
I.R.C. § 170(b) Percentage Limitations
I.R.C. § 170(b)(1) Individuals —
In the case of an individual, the
deduction provided in subsection (a) shall
be limited as provided in the succeeding subparagraphs.
I.R.C. § 170(b)(1)(A) General Rule —
Any charitable contribution to—
I.R.C. § 170(b)(1)(A)(i) —
a church or a convention or association
of churches,
I.R.C. § 170(b)(1)(A)(ii) —
an educational organization which
normally maintains a regular faculty and curriculum and normally
has a regularly enrolled body of pupils or students in attendance
at the place where its educational activities are regularly carried
on,
I.R.C. § 170(b)(1)(A)(iii) —
an organization the principal purpose
or functions of which are the providing of medical or hospital care
or medical education or medical research, if the organization is
a hospital, or if the organization is a medical research organization
directly engaged in the continuous active conduct of medical research
in conjunction with a hospital, and during the calendar year in which
the contribution is made such organization is committed to spend
such contributions for such research before January 1 of the fifth
calendar year which begins after the date such contribution is made,
I.R.C. § 170(b)(1)(A)(iv) —
an organization which normally receives
a substantial part of its support (exclusive of income received in
the exercise or performance by such organization of its charitable,
educational, or other purpose or function constituting the basis
for its exemption under section 501(a))
from the United States or any State or political subdivision thereof
or from direct or indirect contributions from the general public,
and which is organized and operated exclusively to receive, hold,
invest, and administer property and to make expenditures to or for
the benefit of a college or university which is an organization referred
to in clause (ii) of
this subparagraph and which is an agency or instrumentality of a
State or political subdivision thereof, or which is owned or operated
by a State or political subdivision thereof or by an agency or instrumentality
of one or more States or political subdivisions,
I.R.C. § 170(b)(1)(A)(v) —
a governmental unit referred to in
subsection (c)(1),
I.R.C. § 170(b)(1)(A)(vi) —
an organization referred to in subsection (c)(2) which normally receives a
substantial part of its support (exclusive of income received in
the exercise or performance by such organization of its charitable,
educational, or other purpose or function constituting the basis
for its exemption under section 501(a))
from a governmental unit referred to in subsection (c)(1) or from direct or indirect
contributions from the general public,
I.R.C. § 170(b)(1)(A)(vii) —
a private foundation described in
subparagraph (F),
I.R.C. § 170(b)(1)(A)(viii) —
an organization described in section 509(a)(2) or (3), or
I.R.C. § 170(b)(1)(A)(ix) —
an agricultural research organization
directly engaged in the continuous active conduct of agricultural
research (as defined in section 1404 of the National Agricultural
Research, Extension, and Teaching Policy Act of 1977) in conjunction
with a land-grant college or university (as defined in such section)
or a non-land grant college of agriculture (as defined in such section),
and during the calendar year in which the contribution is made such
organization is committed to spend such contribution for such research
before January 1 of the fifth calendar year which begins after the
date such contribution is made,
shall be allowed to the extent that
the aggregate of such contributions does not exceed 50 percent of
the taxpayer's contribution base for the taxable year.
I.R.C. § 170(b)(1)(B) Other Contributions —
Any charitable contribution other than a charitable
contribution to which subparagraph (A) applies
shall be allowed to the extent that the aggregate of such contributions
does not exceed the lesser of—
I.R.C. § 170(b)(1)(B)(i) —
30 percent of the taxpayer's contribution
base for the taxable year, or
I.R.C. § 170(b)(1)(B)(ii) —
the excess of 50 percent of the taxpayer's
contribution base for the taxable year over the amount of charitable
contributions allowable under subparagraph (A) (determined without regard
to subparagraph (C)).
If the aggregate of such contributions exceeds the
limitation of the preceding sentence, such excess shall be treated
(in a manner consistent with the rules of subsection (d)(1)) as a charitable contribution
(to which subparagraph (A) does
not apply) in each of the 5 succeeding taxable years in order of
time.
I.R.C. § 170(b)(1)(C) Special Limitation With Respect To Contributions Described In
Subparagraph (A) Of Certain Capital Gain Property
I.R.C. § 170(b)(1)(C)(i) —
In the case of charitable contributions
described in subparagraph (A) of
capital gain property to which subsection (e)(1)(B) does not apply, the
total amount of contributions of such property which may be taken
into account under subsection (a) for
any taxable year shall not exceed 30 percent of the taxpayer's contribution
base for such year. For purposes of this subsection, contributions
of capital gain property to which this subparagraph applies shall
be taken into account after all other charitable contributions (other
than charitable contributions to which subparagraph (D) applies).
I.R.C. § 170(b)(1)(C)(ii) —
If charitable contributions described
in subparagraph (A) of
capital gain property to which clause (i) applies exceeds 30 percent
of the taxpayer's contribution base for any taxable year, such excess
shall be treated, in a manner consistent with the rules of subsection (d)(1), as a charitable contribution
of capital gain property to which clause (i) applies in each of the
5 succeeding taxable years in order of time.
I.R.C. § 170(b)(1)(C)(iii) —
At the election of the taxpayer (made
at such time and in such manner as the Secretary prescribes by regulations),
subsection (e)(1) shall
apply to all contributions of capital gain property (to which subsection (e)(1)(B) does not otherwise
apply) made by the taxpayer during the taxable year. If such an election
is made, clauses (i) and (ii) shall not apply to contributions
of capital gain property made during the taxable year, and, in applying
subsection (d)(1) for
such taxable year with respect to contributions of capital gain property
made in any prior contribution year for which an election was not
made under this clause, such contributions shall be reduced as if
subsection (e)(1) had
applied to such contributions in the year in which made.
I.R.C. § 170(b)(1)(C)(iv) —
For purposes of this paragraph, the
term “capital gain property” means, with respect to any contribution,
any capital asset the sale of which at its fair market value at the
time of the contribution would have resulted in gain which would
have been long-term capital gain. For purposes of the preceding sentence,
any property which is property used in the trade or business (as
defined in section 1231(b))
shall be treated as a capital asset.
I.R.C. § 170(b)(1)(D) Special Limitation With Respect To Contributions Of Capital
Gain Property To Organizations Not Described In Subparagraph (A)
I.R.C. § 170(b)(1)(D)(i) In General —
In the case of charitable contributions (other than
charitable contributions to which subparagraph (A) applies) of capital gain
property, the total amount of such contributions of such property
taken into account under subsection (a) for
any taxable year shall not exceed the lesser of—
I.R.C. § 170(b)(1)(D)(i)(I) —
20 percent of the taxpayer's contribution
base for the taxable year, or
I.R.C. § 170(b)(1)(D)(i)(II) —
the excess of 30 percent of the taxpayer's
contribution base for the taxable year over the amount of the contributions
of capital gain property to which subparagraph (C) applies.
For purposes of this subsection, contributions of capital
gain property to which this subparagraph applies shall be taken into
account after all other charitable contributions.
I.R.C. § 170(b)(1)(D)(ii) Carryover —
If the aggregate amount of contributions described
in clause (i) exceeds
the limitation of clause (i),
such excess shall be treated (in a manner consistent with the rules
of subsection (d)(1))
as a charitable contribution of capital gain property to which clause (i) applies in each of the
5 succeeding taxable years in order of time.
I.R.C. § 170(b)(1)(E) Contributions Of Qualified Conservation Contributions
I.R.C. § 170(b)(1)(E)(i) In General —
Any qualified conservation contribution (as defined
in subsection (h)(1))
shall be allowed to the extent the aggregate of such contributions
does not exceed the excess of 50 percent of the taxpayer's contribution
base over the amount of all other charitable contributions allowable
under this paragraph.
I.R.C. § 170(b)(1)(E)(ii) Carryover —
If the aggregate amount of contributions described
in clause (i) exceeds
the limitation of clause (i),
such excess shall be treated (in a manner consistent with the rules
of subsection (d)(1))
as a charitable contribution to which clause (i) applies in each of the
15 succeeding years in order of time.
I.R.C. § 170(b)(1)(E)(iii) Coordination With Other Subparagraphs —
For purposes of applying this subsection and subsection (d)(1), contributions described
in clause (i) shall
not be treated as described in subparagraph (A), (B), (C), or (D) and such subparagraphs shall
apply without regard to such contributions.
I.R.C. § 170(b)(1)(E)(iv) Special Rule For Contribution Of Property Used In Agriculture
Or Livestock Production
I.R.C. § 170(b)(1)(E)(iv)(I) In General —
If the individual is a qualified farmer or rancher
for the taxable year for which the contribution is made, clause (i) shall be applied by substituting
“100 percent” for “50 percent”.
I.R.C. § 170(b)(1)(E)(iv)(II) Exception —
Subclause (I) shall
not apply to any contribution of property made after the date of
the enactment of this subparagraph which is used in agriculture or
livestock production (or available for such production) unless such
contribution is subject to a restriction that such property remain
available for such production. This subparagraph shall be applied
separately with respect to property to which subclause (I) does not apply by
reason of the preceding sentence prior to its application to property
to which subclause (I) does
apply.
I.R.C. § 170(b)(1)(E)(v) Definition —
For purposes of clause (iv), the term “qualified
farmer or rancher” means a taxpayer whose gross income from the
trade or business of farming (within the meaning of section 2032A(e)(5)) is greater
than 50 percent of the taxpayer's gross income for the taxable year.
I.R.C. § 170(b)(1)(F) Certain Private Foundations —
The private foundations referred to in subparagraph (A)(vii) and subsection
(e)(1)(B) are—
I.R.C. § 170(b)(1)(F)(i) —
a private operating foundation (as
defined in section 4942(j)(3)),
I.R.C. § 170(b)(1)(F)(ii) —
any other private foundation (as defined
in section 509(a))
which, not later than the 15th day of the third month after the close
of the foundation's taxable year in which contributions are received,
makes qualifying distributions (as defined in section 4942(g), without regard to
paragraph (3) thereof),
which are treated, after the application of section 4942(g)(3), as distributions
out of corpus (in accordance with section 4942(h)) in an amount equal
to 100 percent of such contributions, and with respect to which the
taxpayer obtains adequate records or other sufficient evidence from
the foundation showing that the foundation made such qualifying distributions,
and
I.R.C. § 170(b)(1)(F)(iii) —
a private foundation all of the contributions
to which are pooled in a common fund and which would be described
in section 509(a)(3) but
for the right of any substantial contributor (hereafter in this clause
called “donor”) or his spouse to designate annually the recipients,
from among organizations described in paragraph (1) of section 509(a), of the income attributable
to the donor's contribution to the fund and to direct (by deed or
by will) the payment, to an organization described in such paragraph (1), of the corpus in the
common fund attributable to the donor's contribution; but this clause
shall apply only if all of the income of the common fund is required
to be (and is) distributed to one or more organizations described
in such paragraph (1) not
later than the 15th day of the third month after the close of the
taxable year in which the income is realized by the fund and only
if all of the corpus attributable to any donor's contribution to
the fund is required to be (and is) distributed to one or more of
such organizations not later than one year after his death or after
the death of his surviving spouse if she has the right to designate
the recipients of such corpus.
I.R.C. § 170(b)(1)(G) Increased Limitation For Cash Contributions
I.R.C. § 170(b)(1)(G)(i) In General —
In the case of any contribution of cash to an organization
described in subparagraph (A), the total amount of such contributions
which may be taken into account under subsection (a) for any taxable
year beginning after December 31, 2017, and before January 1, 2026,
shall not exceed 60 percent of the taxpayer's contribution base
for such year.
I.R.C. § 170(b)(1)(G)(ii) Carryover —
If the aggregate amount of contributions described in
clause (i) exceeds the applicable limitation under clause (i) for
any taxable year described in such clause, such excess shall be treated
(in a manner consistent with the rules of subsection (d)(1)) as a
charitable contribution to which clause (i) applies in each of the
5 succeeding years in order of time.
I.R.C. § 170(b)(1)(G)(iii) Coordination With Subparagraphs (A) And (B)—
I.R.C. § 170(b)(1)(G)(iii)(I) In General —
Contributions taken into account under this subparagraph
shall not be taken into account under subparagraph (A).
I.R.C. § 170(b)(1)(G)(iii)(II) Limitation Reduction —
For each taxable year described in clause (i), and each
taxable year to which any contribution under this subparagraph is
carried over under clause (ii), subparagraph (A) shall be applied
by reducing (but not below zero) the contribution limitation allowed
for the taxable year under such subparagraph by the aggregate contributions
allowed under this subparagraph for such taxable year, and subparagraph
(B) shall be applied by treating any reference to subparagraph (A)
as a reference to both subparagraph (A) and this subparagraph.
I.R.C. § 170(b)(1)(H) Contribution Base Defined —
For purposes of this section, the term “contribution
base” means adjusted gross income (computed without regard to any
net operating loss carryback to the taxable year under section 172).
I.R.C. § 170(b)(2) Corporations —
In the case of a corporation—
I.R.C. § 170(b)(2)(A) In General —
The total deductions under subsection (a) for any taxable year (other than
for contributions to which subparagraph (B) or (C) applies) shall not exceed
10 percent of the taxpayer's taxable income.
I.R.C. § 170(b)(2)(B) Qualified Conservation Contributions By Certain Corporate Farmers
And Ranchers
I.R.C. § 170(b)(2)(B)(i) In General —
Any qualified conservation contribution (as defined
in subsection (h)(1))—
I.R.C. § 170(b)(2)(B)(i)(I) —
which is made by a corporation which,
for the taxable year during which the contribution is made, is a
qualified farmer or rancher (as defined in paragraph (1)(E)(v)) and
the stock of which is not readily tradable on an established securities
market at any time during such year, and
I.R.C. § 170(b)(2)(B)(i)(II) —
which, in the case of contributions
made after the date of the enactment of this subparagraph, is a contribution
of property which is used in agriculture or livestock production (or
available for such production) and which is subject to a restriction
that such property remain available for such production,
shall be allowed to the extent the
aggregate of such contributions does not exceed the excess of the
taxpayer's taxable income over the amount of charitable contributions
allowable under subparagraph (A).
I.R.C. § 170(b)(2)(B)(ii) Carryover —
If the aggregate amount of contributions described
in clause (i) exceeds
the limitation of clause (i),
such excess shall be treated (in a manner consistent with the rules
of subsection (d)(2))
as a charitable contribution to which clause (i) applies in each of the
15 succeeding taxable years in order of time.
I.R.C. § 170(b)(2)(C) Qualified Conservation Contributions By Certain Native Corporations
I.R.C. § 170(b)(2)(C)(i) In General —
Any qualified conservation contribution (as defined in
subsection (h)(1)) which—
I.R.C. § 170(b)(2)(C)(i)(I) —
is made by a Native Corporation, and
I.R.C. § 170(b)(2)(C)(i)(II) —
is a contribution of property which
was land conveyed under the Alaska Native Claims Settlement Act,
shall be allowed to the extent that
the aggregate amount of such contributions does not exceed the excess
of the taxpayer's taxable income over the amount of charitable
contributions allowable under subparagraph (A).
I.R.C. § 170(b)(2)(C)(ii) Carryover —
If the aggregate amount of contributions described in
clause (i) exceeds
the limitation of clause (i),
such excess shall be treated (in a manner consistent with the rules
of subsection (d)(2))
as a charitable contribution to which clause (i) applies in each of the
15 succeeding taxable years in order of time.
I.R.C. § 170(b)(2)(C)(iii) Native Corporation —
For purposes of this subparagraph, the term “Native
Corporation” has the meaning given such term by section 3(m)
of the Alaska Native Claims Settlement Act.
I.R.C. § 170(b)(2)(D) Taxable Income —
For purposes of this paragraph,
taxable income shall be computed without regard to—
I.R.C. § 170(b)(2)(D)(i) —
this section,
I.R.C. § 170(b)(2)(D)(ii) —
part VIII (except section 248),
I.R.C. § 170(b)(2)(D)(iii) —
any net operating loss carryback
to the taxable year under section 172,
I.R.C. § 170(b)(2)(D)(iv) —
any capital loss carryback to the
taxable year under section 1212(a)(1)
I.R.C. § 170(b)(2)(D)(v) —
section 199A(g).
I.R.C. § 170(c) Charitable Contribution Defined —
For purposes of this section, the term “charitable
contribution” means a contribution or gift to or for the use of—
I.R.C. § 170(c)(1) —
A State, a possession of the United
States, or any political subdivision of any of the foregoing, or
the United States or the District of Columbia, but only if the contribution
or gift is made for exclusively public purposes.
I.R.C. § 170(c)(2) —
A corporation, trust, or community
chest, fund, or foundation—
I.R.C. § 170(c)(2)(A) —
created or organized in the United
States or in any possession thereof, or under the law of the United
States, any State, the District of Columbia, or any possession of
the United States;
I.R.C. § 170(c)(2)(B) —
organized and operated exclusively
for religious, charitable, scientific, literary, or educational purposes,
or to foster national or international amateur sports competition
(but only if no part of its activities involve the provision of athletic
facilities or equipment), or for the prevention of cruelty to children
or animals;
I.R.C. § 170(c)(2)(C) —
no part of the net earnings of which
inures to the benefit of any private shareholder or individual; and
I.R.C. § 170(c)(2)(D) —
which is not disqualified for tax exemption
under section 501(c)(3) by
reason of attempting to influence legislation, and which does not
participate in, or intervene in (including the publishing or distributing
of statements), any political campaign on behalf of (or in opposition
to) any candidate for public office.
A contribution or gift by a corporation to a trust,
chest, fund, or foundation shall be deductible by reason of this
paragraph only if it is to be used within the United States or any
of its possessions exclusively for purposes specified in subparagraph (B). Rules similar to the rules
of section 501(j) shall
apply for purposes of this paragraph.
I.R.C. § 170(c)(3) —
A post or organization of war veterans,
or an auxiliary unit or society of, or trust or foundation for, any
such post or organization—
I.R.C. § 170(c)(3)(A) —
organized in the United States or any
of its possessions, and
I.R.C. § 170(c)(3)(B) —
no part of the net earnings of which
inures to the benefit of any private shareholder or individual.
I.R.C. § 170(c)(4) —
In the case of a contribution or gift
by an individual, a domestic fraternal society, order, or association,
operating under the lodge system, but only if such contribution or
gift is to be used exclusively for religious, charitable, scientific,
literary, or educational purposes, or for the prevention of cruelty
to children or animals.
I.R.C. § 170(c)(5) —
A cemetery company owned and operated
exclusively for the benefit of its members, or any corporation chartered
solely for burial purposes as a cemetery corporation and not permitted
by its charter to engage in any business not necessarily incident
to that purpose, if such company or corporation is not operated for
profit and no part of the net earnings of such company or corporation
inures to the benefit of any private shareholder or individual.
For purposes of this section, the term “charitable
contribution” also means an amount treated under subsection (g) as paid for the use of an organization
described in paragraph (2), (3), or (4).
I.R.C. § 170(d) Carryovers Of Excess Contributions
I.R.C. § 170(d)(1) Individuals
I.R.C. § 170(d)(1)(A) In General —
In the case of an individual, if the amount of charitable
contributions described in subsection (b)(1)(A) payment of which is
made within a taxable year (hereinafter in this paragraph referred
to as the “contribution year”) exceeds 50 percent of the taxpayer's
contribution base for such year, such excess shall be treated as
a charitable contribution described in subsection (b)(1)(A) paid in each of the
5 succeeding taxable years in order of time, but, with respect to
any such succeeding taxable year, only to the extent of the lesser
of the two following amounts:
I.R.C. § 170(d)(1)(A)(i) —
the amount by which 50 percent of the
taxpayer's contribution base for such succeeding taxable year exceeds
the sum of the charitable contributions described in subsection (b)(1)(A) payment of which is
made by the taxpayer within such succeeding taxable year (determined
without regard to this subparagraph) and the charitable contributions
described in subsection (b)(1)(A) payment
of which was made in taxable years before the contribution year which
are treated under this subparagraph as having been paid in such succeeding
taxable year; or
I.R.C. § 170(d)(1)(A)(ii) —
in the case of the first succeeding
taxable year, the amount of such excess, and in the case of the second,
third, fourth, or fifth succeeding taxable year, the portion of such
excess not treated under this subparagraph as a charitable contribution
described in subsection (b)(1)(A) paid
in any taxable year intervening between the contribution year and
such succeeding taxable year.
I.R.C. § 170(d)(1)(B) Special Rule For Net Operating Loss Carryovers —
In applying subparagraph (A), the excess determined under
subparagraph (A) for
the contribution year shall be reduced to the extent that such excess
reduces taxable income (as computed for purposes of the second sentence
of section 172(b)(2))
and increases the net operating loss deduction for a taxable year
succeeding the contribution year.
I.R.C. § 170(d)(2) Corporations
I.R.C. § 170(d)(2)(A) In General —
Any contribution made by a corporation in a taxable
year (hereinafter in this paragraph referred to as the “contribution
year”) in excess of the amount deductible for such year under subsection (b)(2)(A) shall be deductible
for each of the 5 succeeding taxable years in order of time, but
only to the extent of the lesser of the two following amounts: (i)
the excess of the maximum amount deductible for such succeeding taxable
year under subsection (b)(2)(A) over
the sum of the contributions made in such year plus the aggregate
of the excess contributions which were made in taxable years before
the contribution year and which are deductible under this subparagraph
for such succeeding taxable year; or (ii) in the case of the first
succeeding taxable year, the amount of such excess contribution, and
in the case of the second, third, fourth, or fifth succeeding taxable
year, the portion of such excess contribution not deductible under
this subparagraph for any taxable year intervening between the contribution
year and such succeeding taxable year.
I.R.C. § 170(d)(2)(B) Special Rule For Net Operating Loss Carryovers —
For purposes of subparagraph (A), the excess of—
I.R.C. § 170(d)(2)(B)(i) —
the contributions made by a corporation
in a taxable year to which this section applies, over
I.R.C. § 170(d)(2)(B)(ii) —
the amount deductible in such year
under the limitation in subsection (b)(2)(A),
shall be reduced to the extent that such excess reduces taxable income
(as computed for purposes of the second sentence of section 172(b)(2)) and increases
a net operating loss carryover under section 172 to a succeeding taxable year.
I.R.C. § 170(e) Certain Contributions Of Ordinary Income And Capital Gain Property
I.R.C. § 170(e)(1) General Rule —
The amount of any charitable contribution
of property otherwise taken into account under this section shall
be reduced by the sum of—
I.R.C. § 170(e)(1)(A) —
the amount of gain which would not
have been long-term capital gain (determined without regard to section 1221(b)(3)) if the property
contributed had been sold by the taxpayer at its fair market value
(determined at the time of such contribution), and
I.R.C. § 170(e)(1)(B) —
in the case of a charitable contribution—
I.R.C. § 170(e)(1)(B)(i) —
of tangible personal property—
I.R.C. § 170(e)(1)(B)(i)(I) —
if the use by the donee is unrelated
to the purpose or function constituting the basis for its exemption
under section 501 (or,
in the case of a governmental unit, to any purpose or function described
in subsection (c)), or
I.R.C. § 170(e)(1)(B)(i)(II) —
which is applicable property (as
defined in paragraph (7)(C),
but without regard to clause (ii) thereof)
which is sold, exchanged, or otherwise disposed of by the donee before
the last day of the taxable year in which the contribution was made
and with respect to which the donee has not made a certification
in accordance with paragraph (7)(D),
I.R.C. § 170(e)(1)(B)(ii) —
to or for the use of a private foundation
(as defined in section 509(a)),
other than a private foundation described in subsection (b)(1)(F),
I.R.C. § 170(e)(1)(B)(iii) —
of any patent, copyright (other
than a copyright described in section 1221(a)(3) or 1231(b)(1)(C)), trademark,
trade name, trade secret, know-how, software (other than software
described in section 197(e)(3)(A)(i)),
or similar property, or applications or registrations of such property,
or
I.R.C. § 170(e)(1)(B)(iv) —
of any taxidermy property which is
contributed by the person who prepared, stuffed, or mounted the property
or by any person who paid or incurred the cost of such preparation,
stuffing, or mounting,
the amount of gain which would have
been long-term capital gain if the property contributed had been
sold by the taxpayer at its fair market value (determined at the
time of such contribution).
For purposes of applying this paragraph
(other than in the case of gain to which section 617(d)(1), 1245(a), 1250(a), 1252(a), or 1254(a) applies), property
which is property used in the trade or business (as defined in section 1231(b)) shall be treated
as a capital asset. For purposes of applying this paragraph in the
case of a charitable contribution of stock in an S corporation, rules
similar to the rules of section 751 shall
apply in determining whether gain on such stock would have been long-term
capital gain if such stock were sold by the taxpayer.
I.R.C. § 170(e)(2) Allocation Of Basis —
For purposes of paragraph (1), in the case of a charitable
contribution of less than the taxpayer's entire interest in the property
contributed, the taxpayer's adjusted basis in such property shall
be allocated between the interest contributed and any interest not
contributed in accordance with regulations prescribed by the Secretary.
I.R.C. § 170(e)(3) Special Rule For Certain Contributions Of Inventory And Other
Property
I.R.C. § 170(e)(3)(A) Qualified Contributions —
For purposes of this paragraph, a qualified contribution
shall mean a charitable contribution of property described in paragraph (1) or (2) of section 1221(a), by a corporation (other
than a corporation which is an S corporation) to an organization
which is described in section 501(c)(3)
and is exempt under section 501(a) (other
than a private foundation, as defined in section 509(a), which is not an operating
foundation, as defined in section 4942(j)(3)), but only if—
I.R.C. § 170(e)(3)(A)(i) —
the use of the property by the donee
is related to the purpose or function constituting the basis for
its exemption under section 501 and
the property is to be used by the donee solely for the care of the
ill, the needy, or infants;
I.R.C. § 170(e)(3)(A)(ii) —
the property is not transferred by
the donee in exchange for money, other property, or services;
I.R.C. § 170(e)(3)(A)(iii) —
the taxpayer receives from the donee
a written statement representing that its use and disposition of
the property will be in accordance with the provisions of clauses (i) and (ii); and
I.R.C. § 170(e)(3)(A)(iv) —
in the case where the property is
subject to regulation under the Federal Food, Drug, and Cosmetic
Act, as amended, such property must fully satisfy the applicable
requirements of such Act and regulations promulgated thereunder on
the date of transfer and for one hundred and eighty days prior thereto.
I.R.C. § 170(e)(3)(B) Amount Of Reduction —
The reduction under paragraph (1)(A) for any qualified contribution
(as defined in subparagraph (A))
shall be no greater than the sum of—
I.R.C. § 170(e)(3)(B)(i) —
one-half of the amount computed under
paragraph (1)(A) (computed
without regard to this paragraph), and
I.R.C. § 170(e)(3)(B)(ii) —
the amount (if any) by which the charitable
contribution deduction under this section for any qualified contribution
(computed by taking into account the amount determined in clause (i), but without regard to
this clause) exceeds twice the basis of such property.
I.R.C. § 170(e)(3)(C) Special Rule For Contributions Of Food Inventory
I.R.C. § 170(e)(3)(C)(i) General Rule —
In the case of a charitable contribution of food from
any trade or business of the taxpayer, this paragraph shall be applied—
I.R.C. § 170(e)(3)(C)(i)(I) —
without regard to whether the contribution
is made by a C corporation, and
I.R.C. § 170(e)(3)(C)(i)(II) —
only to food that is apparently wholesome
food.
I.R.C. § 170(e)(3)(C)(ii) Limitation —
The aggregate amount of such contributions for any taxable
year which may be taken into account under this section shall not
exceed—
I.R.C. § 170(e)(3)(C)(ii)(I) —
in the case of any taxpayer other than
a C corporation, 15 percent of the taxpayer's aggregate net
income for such taxable year from all trades or businesses from which
such contributions were made for such year, computed without regard
to this section, and
I.R.C. § 170(e)(3)(C)(ii)(II) —
in the case of a C corporation, 15 percent
of taxable income (as defined in subsection (b)(2)(D)).
I.R.C. § 170(e)(3)(C)(iii) Rules Related To Limitation
I.R.C. § 170(e)(3)(C)(iii)(I) Carryover —
If such aggregate amount exceeds the limitation imposed
under clause (ii),
such excess shall be treated (in a manner consistent with the rules
of subsection (d)) as a charitable
contribution described in clause (i) in
each of the 5 succeeding taxable years in order of time.
I.R.C. § 170(e)(3)(C)(iii)(II) Coordination With Overall Corporate Limitation —
In the case of any charitable contribution which is allowable
after the application of clause (ii)(II), subsection (b)(2)(A) shall not apply to
such contribution, but the limitation imposed by such subsection shall
be reduced (but not below zero) by the aggregate amount of such contributions.
For purposes of subsection (b)(2)(B),
such contributions shall be treated as allowable under subsection (b)(2)(A).
I.R.C. § 170(e)(3)(C)(iv) Determination Of Basis For Certain Taxpayers —
If a taxpayer—
I.R.C. § 170(e)(3)(C)(iv)(I) —
does not account for inventories under section 471, and
I.R.C. § 170(e)(3)(C)(iv)(II) —
is not required to capitalize indirect
costs under section 263A,
the taxpayer may elect, solely for
purposes of subparagraph (B),
to treat the basis of any apparently wholesome food as being equal
to 25 percent of the fair market value of such food.
I.R.C. § 170(e)(3)(C)(v) Determination Of Fair Market Value —
In the case of any such contribution of apparently wholesome
food which cannot or will not be sold solely by reason of internal
standards of the taxpayer, lack of market, or similar circumstances,
or by reason of being produced by the taxpayer exclusively for the
purposes of transferring the food to an organization described in
subparagraph (A), the
fair market value of such contribution shall be determined—
I.R.C. § 170(e)(3)(C)(v)(I) —
without regard to such internal standards,
such lack of market, such circumstances, or such exclusive purpose,
and
I.R.C. § 170(e)(3)(C)(v)(II) —
by taking into account the price at
which the same or substantially the same food items (as to both type
and quality) are sold by the taxpayer at the time of the contribution
(or, if not so sold at such time, in the recent past).
I.R.C. § 170(e)(3)(C)(vi) Apparently Wholesome Food —
For purposes of this subparagraph, the term “apparently
wholesome food” has the meaning given to such term by section 22(b)(2)
of the Bill Emerson Good Samaritan Food Donation Act (42 U.S.C. 1791(b)(2)), as
in effect on the date of the enactment of this subparagraph.
I.R.C. § 170(e)(3)(D) —
This paragraph shall not apply to so
much of the amount of the gain described in paragraph (1)(A) which would be long-term
capital gain but for the application of sections 617, 1245, 1250, or 1252.
I.R.C. § 170(e)(4) Special Rule For Contributions Of Scientific Property Used For
Research
I.R.C. § 170(e)(4)(A) Limit On Reduction —
In the case of a qualified research contribution, the
reduction under paragraph (1)(A) shall
be no greater than the amount determined under paragraph (3)(B).
I.R.C. § 170(e)(4)(B) Qualified Research Contributions —
For purposes of this paragraph, the term “qualified
research contribution” means a charitable contribution by a corporation
of tangible personal property described in paragraph (1) of section 1221(a), but only if—
I.R.C. § 170(e)(4)(B)(i) —
the contribution is to an organization
described in subparagraph (A) or
subparagraph (B) of
section 41(e)(6),
I.R.C. § 170(e)(4)(B)(ii) —
the property is constructed or assembled
by the taxpayer,
I.R.C. § 170(e)(4)(B)(iii) —
the contribution is made not later
than 2 years after the date the construction or assembly of the property
is substantially completed,
I.R.C. § 170(e)(4)(B)(iv) —
the original use of the property is
by the donee,
I.R.C. § 170(e)(4)(B)(v) —
the property is scientific equipment
or apparatus substantially all of the use of which by the donee is
for research or experimentation (within the meaning of section 174), or for research training,
in the United States in physical or biological sciences,
I.R.C. § 170(e)(4)(B)(vi) —
the property is not transferred by
the donee in exchange for money, other property, or services, and
I.R.C. § 170(e)(4)(B)(vii) —
the taxpayer receives from the donee
a written statement representing that its use and disposition of
the property will be in accordance with the provisions of clauses (v) and (vi).
I.R.C. § 170(e)(4)(C) Construction Of Property By Taxpayer —
For purposes of this paragraph, property shall be treated
as constructed by the taxpayer only if the cost of the parts used
in the construction of such property (other than parts manufactured
by the taxpayer or a related person) do not exceed 50 percent of
the taxpayer's basis in such property.
I.R.C. § 170(e)(4)(D) Corporation —
For purposes of this paragraph, the term “corporation"
shall not include—
I.R.C. § 170(e)(4)(D)(i) —
an S corporation,
I.R.C. § 170(e)(4)(D)(ii) —
a personal holding company (as defined
in section 542),
and
I.R.C. § 170(e)(4)(D)(iii) —
a service organization (as defined
in section 414(m)(3)).
I.R.C. § 170(e)(5) Special Rule For Contributions Of Stock For Which Market Quotations
Are Readily Available
I.R.C. § 170(e)(5)(A) In General —
Subparagraph (B)(ii) of
paragraph (1) shall not
apply to any contribution of qualified appreciated stock.
I.R.C. § 170(e)(5)(B) Qualified Appreciated Stock —
Except as provided in subparagraph (C), for purposes of this paragraph,
the term “qualified appreciated stock” means any stock of a corporation—
I.R.C. § 170(e)(5)(B)(i) —
for which (as of the date of the contribution)
market quotations are readily available on an established securities
market, and
I.R.C. § 170(e)(5)(B)(ii) —
which is capital gain property (as
defined in subsection (b)(1)(C)(iv)).
I.R.C. § 170(e)(5)(C) Donor May Not Contribute More Than 10 Percent Of Stock Of Corporation
I.R.C. § 170(e)(5)(C)(i) In General —
In the case of any donor, the term “qualified appreciated
stock” shall not include any stock of a corporation contributed by
the donor in a contribution to which paragraph (1)(B)(ii) applies (determined
without regard to this paragraph) to the extent that the amount of
the stock so contributed (when increased by the aggregate amount
of all prior such contributions by the donor of stock in such corporation)
exceeds 10 percent (in value) of all of the outstanding stock of
such corporation.
I.R.C. § 170(e)(5)(C)(ii) Special Rule —
For purposes of clause (i), an individual shall be
treated as making all contributions made by any member of his family
(as defined in section 267(c)(4)).
I.R.C. § 170(e)(6) Special Rule For Contributions Of Computer Technology And Equipment
For Educational Purposes —
[Repealed. Pub. L. 113-295,
Div. A, title II, Sec. 221(a)(28)(B).]
I.R.C. § 170(e)(7) Recapture Of Deduction On Certain Dispositions Of Exempt Use
Property
I.R.C. § 170(e)(7)(A) In General —
In the case of an applicable disposition of applicable
property, there shall be included in the income of the donor of such
property for the taxable year of such donor in which the applicable
disposition occurs an amount equal to the excess (if any) of—
I.R.C. § 170(e)(7)(A)(i) —
the amount of the deduction allowed
to the donor under this section with respect to such property, over
I.R.C. § 170(e)(7)(A)(ii) —
the donor's basis in such property
at the time such property was contributed.
I.R.C. § 170(e)(7)(B) Applicable Disposition —
For purposes of this paragraph, the term “applicable
disposition” means any sale, exchange, or other disposition by the
donee of applicable property—
I.R.C. § 170(e)(7)(B)(i) —
after the last day of the taxable
year of the donor in which such property was contributed, and
I.R.C. § 170(e)(7)(B)(ii) —
before the last day of the 3-year
period beginning on the date of the contribution of such property,
unless the donee makes a certification
in accordance with subparagraph (D).
I.R.C. § 170(e)(7)(C) Applicable Property —
For purposes of this paragraph, the term “applicable
property” means charitable deduction property (as defined in section
6050L(a)(2)(A))—
I.R.C. § 170(e)(7)(C)(i) —
which is tangible personal property
the use of which is identified by the donee as related to the purpose
or function constituting the basis of the donee's exemption under
section 501, and
I.R.C. § 170(e)(7)(C)(ii) —
for which a deduction in excess of
the donor's basis is allowed.
I.R.C. § 170(e)(7)(D) Certification —
A certification meets the requirements of this subparagraph
if it is a written statement which is signed under penalty of perjury
by an officer of the donee organization and—
I.R.C. § 170(e)(7)(D)(i) —
which—
I.R.C. § 170(e)(7)(D)(i)(I) —
certifies that the use of the property
by the donee was substantial and related to the purpose or function
constituting the basis for the donee's exemption under section 501, and
I.R.C. § 170(e)(7)(D)(i)(II) —
describes how the property was used
and how such use furthered such purpose or function, or
I.R.C. § 170(e)(7)(D)(ii) —
which—
I.R.C. § 170(e)(7)(D)(ii)(I) —
states the intended use of the property
by the donee at the time of the contribution, and
I.R.C. § 170(e)(7)(D)(ii)(II) —
certifies that such intended use
has become impossible or infeasible to implement.
I.R.C. § 170(f) Disallowance Of Deduction In Certain Cases And Special Rules
I.R.C. § 170(f)(1) In General —
No deduction shall be allowed under this section for
a contribution to or for the use of an organization or trust described
in section 508(d) or
4948(c)(4) subject
to the conditions specified in such sections.
I.R.C. § 170(f)(2) Contributions Of Property Placed In Trust
I.R.C. § 170(f)(2)(A) Remainder Interest —
In the case of property transferred in trust, no deduction
shall be allowed under this section for the value of a contribution
of a remainder interest unless the trust is a charitable remainder
annuity trust or a charitable remainder unitrust (described in section 664), or a pooled income fund
(described in section 642(c)(5)).
I.R.C. § 170(f)(2)(B) Income Interests, Etc. —
No deduction shall be allowed under this section for
the value of any interest in property (other than a remainder interest)
transferred in trust unless the interest is in the form of a guaranteed
annuity or the trust instrument specifies that the interest is a
fixed percentage distributed yearly of the fair market value of the
trust property (to be determined yearly) and the grantor is treated
as the owner of such interest for purposes of applying section 671. If the donor ceases to be
treated as the owner of such an interest for purposes of applying
section 671, at
the time the donor ceases to be so treated, the donor shall for purposes
of this chapter be considered as having received an amount of income
equal to the amount of any deduction he received under this section
for the contribution reduced by the discounted value of all amounts
of income earned by the trust and taxable to him before the time
at which he ceases to be treated as the owner of the interest. Such
amounts of income shall be discounted to the date of the contribution.
The Secretary shall prescribe such regulations as may be necessary
to carry out the purposes of this subparagraph.
I.R.C. § 170(f)(2)(C) Denial Of Deduction In Case Of Payments By Certain Trusts —
In any case in which a deduction is allowed under this
section for the value of an interest in property described in subparagraph (B), transferred in trust, no
deduction shall be allowed under this section to the grantor or any
other person for the amount of any contribution made by the trust
with respect to such interest.
I.R.C. § 170(f)(2)(D) Exception —
This paragraph shall not apply in a case in which the
value of all interests in property transferred in trust are deductible
under subsection (a).
I.R.C. § 170(f)(3) Denial Of Deduction In Case Of Certain Contributions Of Partial
Interests In Property
I.R.C. § 170(f)(3)(A) In General —
In the case of a contribution (not made by a transfer
in trust) of an interest in property which consists of less than
the taxpayer's entire interest in such property, a deduction shall
be allowed under this section only to the extent that the value of
the interest contributed would be allowable as a deduction under
this section if such interest had been transferred in trust. For
purposes of this subparagraph, a contribution by a taxpayer of the
right to use property shall be treated as a contribution of less
than the taxpayer's entire interest in such property.
I.R.C. § 170(f)(3)(B) Exceptions —
Subparagraph (A) shall
not apply to—
I.R.C. § 170(f)(3)(B)(i) —
a contribution of a remainder interest
in a personal residence or farm,
I.R.C. § 170(f)(3)(B)(ii) —
a contribution of an undivided portion
of the taxpayer's entire interest in property, and
I.R.C. § 170(f)(3)(B)(iii) —
a qualified conservation contribution.
I.R.C. § 170(f)(4) Valuation Of Remainder Interest In Real Property —
For purposes of this section, in determining the value
of a remainder interest in real property, depreciation (computed
on the straight line method) and depletion of such property shall
be taken into account, and such value shall be discounted at a rate
of 6 percent per annum, except that the Secretary may prescribe a
different rate.
I.R.C. § 170(f)(5) Reduction For Certain Interest —
If, in connection with any charitable contribution,
a liability is assumed by the recipient or by any other person, or
if a charitable contribution is of property which is subject to a
liability, then, to the extent necessary to avoid the duplication
of amounts, the amount taken into account for purposes of this section
as the amount of the charitable contribution—
I.R.C. § 170(f)(5)(A) —
shall be reduced for interest (i) which
has been paid (or is to be paid) by the taxpayer, (ii) which is attributable
to the liability, and (iii) which is attributable to any period after
the making of the contribution, and
I.R.C. § 170(f)(5)(B) —
in the case of a bond, shall be further
reduced for interest (i) which has been paid (or is to be paid) by
the taxpayer on indebtedness incurred or continued to purchase or
carry such bond, and (ii) which is attributable to any period before
the making of the contribution.
The reduction pursuant to subparagraph (B) shall not exceed the interest
(including interest equivalent) on the bond which is attributable
to any period before the making of the contribution and which is
not (under the taxpayer's method of accounting) includible in the
gross income of the taxpayer for any taxable year. For purposes of
this paragraph, the term “bond” means any bond, debenture, note,
or certificate or other evidence of indebtedness.
I.R.C. § 170(f)(6) Deductions For Out-Of-Pocket Expenditures —
No deduction shall be allowed under this section for
an out-of-pocket expenditure made by any person on behalf of an organization
described in subsection (c) (other
than an organization described in section 501(h)(5) (relating to churches,
etc.)) if the expenditure is made for the purpose of influencing
legislation (within the meaning of section 501(c)(3)).
I.R.C. § 170(f)(7) Reformations To Comply With Paragraph (2)
I.R.C. § 170(f)(7)(A) In General —
A deduction shall be allowed under subsection (a) in respect of any qualified reformation
(within the meaning of section 2055(e)(3)(B)).
I.R.C. § 170(f)(7)(B) Rules Similar To Section 2055(e)(3) To Apply —
For purposes of this paragraph, rules similar to the
rules of section 2055(e)(3) shall
apply.
I.R.C. § 170(f)(8) Substantiation Requirement For Certain Contributions
I.R.C. § 170(f)(8)(A) General Rule —
No deduction shall be allowed under subsection (a) for any contribution of $250 or
more unless the taxpayer substantiates the contribution by a contemporaneous
written acknowledgment of the contribution by the donee organization
that meets the requirements of subparagraph (B).
I.R.C. § 170(f)(8)(B) Content Of Acknowledgement —
An acknowledgement meets the requirements of this subparagraph
if it includes the following information:
I.R.C. § 170(f)(8)(B)(i) —
The amount of cash and a description
(but not value) of any property other than cash contributed.
I.R.C. § 170(f)(8)(B)(ii) —
Whether the donee organization provided
any goods or services in consideration, in whole or in part, for
any property described in clause (i).
I.R.C. § 170(f)(8)(B)(iii) —
A description and good faith estimate
of the value of any goods or services referred to in clause (ii) or, if such goods or
services consist solely of intangible religious benefits, a statement
to that effect.
For purposes
of this subparagraph, the term “intangible religious benefit”
means any intangible religious benefit which is provided by an organization
organized exclusively for religious purposes and which generally
is not sold in a commercial transaction outside the donative context.
I.R.C. § 170(f)(8)(C) Contemporaneous —
For purposes of subparagraph (A), an acknowledgment shall
be considered to be contemporaneous if the taxpayer obtains the acknowledgment
on or before the earlier of—
I.R.C. § 170(f)(8)(C)(i) —
the date on which the taxpayer files
a return for the taxable year in which the contribution was made,
or
I.R.C. § 170(f)(8)(C)(ii) —
the due date (including extensions)
for filing such return.
I.R.C. § 170(f)(8)(D) Regulations —
The Secretary shall prescribe such
regulations as may be necessary or appropriate to carry out the purposes
of this paragraph, including regulations that may provide that some
or all of the requirements of this paragraph do not apply in appropriate
cases.
I.R.C. § 170(f)(9) Denial Of Deduction Where Contribution For Lobbying Activities —
No deduction shall be allowed under this section for
a contribution to an organization which conducts activities to which
section 162(e)(1) applies
on matters of direct financial interest to the donor's trade or business,
if a principal purpose of the contribution was to avoid Federal income
tax by securing a deduction for such activities under this section
which would be disallowed by reason of section 162(e) if the donor had conducted
such activities directly. No deduction shall be allowed under section 162(a) for any amount for which
a deduction is disallowed under the preceding sentence.
I.R.C. § 170(f)(10) Split-Dollar Life Insurance, Annuity, And Endowment Contracts
I.R.C. § 170(f)(10)(A) In General —
Nothing in this section or in section 545(b)(2), 642(c), 2055, 2106(a)(2), or 2522 shall be construed to allow
a deduction, and no deduction shall be allowed, for any transfer
to or for the use of an organization described in subsection (c) if in connection with such transfer
I.R.C. § 170(f)(10)(A)(i) —
the organization directly or indirectly
pays, or has previously paid, any premium on any personal benefit
contract with respect to the transferor, or
I.R.C. § 170(f)(10)(A)(ii) —
there is an understanding or expectation
that any person will directly or indirectly pay any premium on any
personal benefit contract with respect to the transferor.
I.R.C. § 170(f)(10)(B) Personal Benefit Contract —
For purposes of subparagraph (A), the term “personal
benefit contract” means, with respect to the transferor, any
life insurance, annuity, or endowment contract if any direct or indirect
beneficiary under such contract is the transferor, any member of
the transferor's family, or any other person (other than an organization
described in subsection (c))
designated by the transferor.
I.R.C. § 170(f)(10)(C) Application To Charitable Remainder Trusts —
In the case of a transfer to a trust referred to in
subparagraph (E),
references in subparagraphs (A) and (F) to an organization described
in subsection (c) shall
be treated as a reference to such trust.
I.R.C. § 170(f)(10)(D) Exception For Certain Annuity Contracts —
If, in connection with a transfer to or for the use
of an organization described in subsection (c), such organization incurs an obligation
to pay a charitable gift annuity (as defined in section 501(m)) and such organization
purchases any annuity contract to fund such obligation, persons receiving
payments under the charitable gift annuity shall not be treated for
purposes of subparagraph (B) as
indirect beneficiaries under such contract if—
I.R.C. § 170(f)(10)(D)(i) —
such organization possesses all
of the incidents of ownership under such contract,
I.R.C. § 170(f)(10)(D)(ii) —
such organization is entitled to
all the payments under such contract, and
I.R.C. § 170(f)(10)(D)(iii) —
the timing and amount of payments
under such contract are substantially the same as the timing and
amount of payments to each such person under such obligation (as
such obligation is in effect at the time of such transfer).
I.R.C. § 170(f)(10)(E) Exception For Certain Contracts Held By Charitable Remainder
Trusts —
A person shall not be treated for purposes of subparagraph (B) as an indirect beneficiary
under any life insurance, annuity, or endowment contract held by
a charitable remainder annuity trust or a charitable remainder unitrust
(as defined in section 664(d))
solely by reason of being entitled to any payment referred to in
paragraph (1)(A) or (2)(A) of section 664(d) if—
I.R.C. § 170(f)(10)(E)(i) —
such trust possesses all of the
incidents of ownership under such contract, and
I.R.C. § 170(f)(10)(E)(ii) —
such trust is entitled to all the
payments under such contract.
I.R.C. § 170(f)(10)(F) Excise Tax On Premiums Paid
I.R.C. § 170(f)(10)(F)(i) In General —
There is hereby imposed on any organization described
in subsection (c) an excise
tax equal to the premiums paid by such organization on any life insurance,
annuity, or endowment contract if the payment of premiums on such
contract is in connection with a transfer for which a deduction is
not allowable under subparagraph (A),
determined without regard to when such transfer is made.
I.R.C. § 170(f)(10)(F)(ii) Payments By Other Persons —
For purposes of clause (i), payments made by any
other person pursuant to an understanding or expectation referred
to in subparagraph (A) shall
be treated as made by the organization.
I.R.C. § 170(f)(10)(F)(iii) Reporting —
Any organization on which tax is imposed by clause (i) with respect to any
premium shall file an annual return which includes—
I.R.C. § 170(f)(10)(F)(iii)(I) —
the amount of such premiums paid
during the year and the name and TIN of each beneficiary under the
contract to which the premium relates, and
I.R.C. § 170(f)(10)(F)(iii)(II) —
such other information as the Secretary
may require.
The penalties applicable to returns required under
section 6033 shall
apply to returns required under this clause. Returns required under
this clause shall be furnished at such time and in such manner as
the Secretary shall by forms or regulations require.
I.R.C. § 170(f)(10)(F)(iv) Certain Rules To Apply —
The tax imposed by this subparagraph shall be treated
as imposed by chapter 42 for purposes of this title other than subchapter
B of chapter 42.
I.R.C. § 170(f)(10)(G) Special Rule Where State Requires Specification Of Charitable
Gift Annuitant In Contract —
In the case of an obligation to pay a charitable gift
annuity referred to in subparagraph (D) which is entered into under
the laws of a State which requires, in order for the charitable gift
annuity to be exempt from insurance regulation by such State, that
each beneficiary under the charitable gift annuity be named as a
beneficiary under an annuity contract issued by an insurance company
authorized to transact business in such State, the requirements of
clauses (i) and (ii) of subparagraph (D) shall be treated as met
if—
I.R.C. § 170(f)(10)(G)(i) —
such State law requirement was in
effect on February 8, 1999,
I.R.C. § 170(f)(10)(G)(ii) —
each such beneficiary under the
charitable gift annuity is a bona fide resident of such State at
the time the obligation to pay a charitable gift annuity is entered
into, and
I.R.C. § 170(f)(10)(G)(iii) —
the only persons entitled to payments
under such contract are persons entitled to payments as beneficiaries
under such obligation on the date such obligation is entered into.
I.R.C. § 170(f)(10)(H) Member Of Family —
For purposes of this paragraph, an individual's family
consists of the individual's grandparents, the grandparents of such
individual's spouse, the lineal descendants of such grandparents,
and any spouse of such a lineal descendant.
I.R.C. § 170(f)(10)(I) Regulations —
The Secretary shall prescribe such regulations as may
be necessary or appropriate to carry out the purposes of this paragraph,
including regulations to prevent the avoidance of such purposes.
I.R.C. § 170(f)(11) Qualified Appraisal And Other Documentation For Certain Contributions
I.R.C. § 170(f)(11)(A) In General
I.R.C. § 170(f)(11)(A)(i) Denial Of Deduction —
In the case of an individual, partnership, or corporation,
no deduction shall be allowed under subsection (a) for any contribution of property
for which a deduction of more than $500 is claimed unless such person
meets the requirements of subparagraphs (B), (C), and (D), as the case may be, with
respect to such contribution.
I.R.C. § 170(f)(11)(A)(ii) Exceptions
I.R.C. § 170(f)(11)(A)(ii)(I) Readily Valued Property —
Subparagraphs (C) and (D) shall not apply to cash,
property described in subsection (e)(1)(B)(iii) or section 1221(a)(1), publicly traded
securities (as defined in section 6050L(a)(2)(B)), and
any qualified vehicle described in paragraph (12)(A)(ii) for which an
acknowledgement under paragraph (12)(B)(iii) is provided.
I.R.C. § 170(f)(11)(A)(ii)(II) Reasonable Cause —
Clause (i) shall
not apply if it is shown that the failure to meet such requirements
is due to reasonable cause and not to willful neglect.
I.R.C. § 170(f)(11)(B) Property Description For Contributions Of More Than $500 —
In the case of contributions of property for which
a deduction of more than $500 is claimed, the requirements of this
subparagraph are met if the individual, partnership or corporation
includes with the return for the taxable year in which the contribution
is made a description of such property and such other information
as the Secretary may require. The requirements of this subparagraph
shall not apply to a C corporation which is not a personal service
corporation or a closely held C corporation.
I.R.C. § 170(f)(11)(C) Qualified Appraisal For Contributions Of More Than $5,000 —
In the case of contributions of property for which
a deduction of more than $5,000 is claimed, the requirements of this
subparagraph are met if the individual, partnership, or corporation
obtains a qualified appraisal of such property and attaches to the
return for the taxable year in which such contribution is made such
information regarding such property and such appraisal as the Secretary
may require.
I.R.C. § 170(f)(11)(D) Substantiation For Contributions Of More Than $500,000 —
In the case of contributions of property for which
a deduction of more than $500,000 is claimed, the requirements of
this subparagraph are met if the individual, partnership, or corporation
attaches to the return for the taxable year a qualified appraisal
of such property.
I.R.C. § 170(f)(11)(E) Qualified Appraisal And Appraiser —
For purposes of this paragraph—
I.R.C. § 170(f)(11)(E)(i) Qualified Appraisal —
The term “qualified appraisal” means, with respect
to any property, an appraisal of such property which—
I.R.C. § 170(f)(11)(E)(i)(I) —
is treated for purposes of this paragraph
as a qualified appraisal under regulations or other guidance prescribed
by the Secretary, and
I.R.C. § 170(f)(11)(E)(i)(II) —
is conducted by a qualified appraiser
in accordance with generally accepted appraisal standards and any
regulations or other guidance prescribed under subclause (I).
I.R.C. § 170(f)(11)(E)(ii) Qualified Appraiser —
Except as provided in clause (iii), the term “qualified
appraiser” means an individual who—
I.R.C. § 170(f)(11)(E)(ii)(I) —
has earned an appraisal designation
from a recognized professional appraiser organization or has otherwise
met minimum education and experience requirements set forth in
regulations prescribed by the Secretary,
I.R.C. § 170(f)(11)(E)(ii)(II) —
regularly performs appraisals for
which the individual receives compensation, and
I.R.C. § 170(f)(11)(E)(ii)(III) —
meets such other requirements as
may be prescribed by the Secretary in regulations or other guidance.
I.R.C. § 170(f)(11)(E)(iii) Specific Appraisals —
An individual shall not be treated as a qualified
appraiser with respect to any specific appraisal unless—
I.R.C. § 170(f)(11)(E)(iii)(I) —
the individual demonstrates verifiable
education and experience in valuing the type of property subject
to the appraisal, and
I.R.C. § 170(f)(11)(E)(iii)(II) —
the individual has not been prohibited
from practicing before the Internal Revenue Service by the Secretary
under section 330(c) of
title 31, United States Code, at any time during the 3-year period
ending on the date of the appraisal.
I.R.C. § 170(f)(11)(F) Aggregation Of Similar Items Of Property —
For purposes of determining thresholds under this
paragraph, property and all similar items of property donated to
1 or more donees shall be treated as 1 property.
I.R.C. § 170(f)(11)(G) Special Rule For Pass-Thru Entities —
In the case of a partnership or S corporation, this
paragraph shall be applied at the entity level, except that the deduction
shall be denied at the partner or shareholder level.
I.R.C. § 170(f)(11)(H) Regulations —
The Secretary may prescribe such regulations as may
be necessary or appropriate to carry out the purposes of this paragraph,
including regulations that may provide that some or all of the requirements
of this paragraph do not apply in appropriate cases.
I.R.C. § 170(f)(12) Contributions Of Used Motor Vehicles, Boats, And Airplanes
I.R.C. § 170(f)(12)(A) In General —
In the case of a contribution of a qualified vehicle
the claimed value of which exceeds $500—
I.R.C. § 170(f)(12)(A)(i) —
paragraph (8) shall not apply and no deduction
shall be allowed under subsection (a) for
such contribution unless the taxpayer substantiates the contribution
by a contemporaneous written acknowledgement of the contribution
by the donee organization that meets the requirements of subparagraph (B) and includes the acknowledgement
with the taxpayer's return of tax which includes the deduction, and
I.R.C. § 170(f)(12)(A)(ii) —
if the organization sells the vehicle
without any significant intervening use or material improvement of
such vehicle by the organization, the amount of the deduction allowed
under subsection (a) shall not exceed the gross proceeds received
from such sale.
I.R.C. § 170(f)(12)(B) Content Of Acknowledgement —
An acknowledgement meets the requirements of this
subparagraph if it includes the following information:
I.R.C. § 170(f)(12)(B)(i) —
The name and taxpayer identification
number of the donor.
I.R.C. § 170(f)(12)(B)(ii) —
The vehicle identification number
or similar number.
I.R.C. § 170(f)(12)(B)(iii) —
In the case of a qualified vehicle
to which subparagraph (A)(ii)
applies—
I.R.C. § 170(f)(12)(B)(iii)(I) —
a certification that the vehicle was
sold in an arm's length transaction between unrelated parties,
I.R.C. § 170(f)(12)(B)(iii)(II) —
the gross proceeds from the sale,
and
I.R.C. § 170(f)(12)(B)(iii)(III) —
a statement that the deductible
amount may not exceed the amount of such gross proceeds.
I.R.C. § 170(f)(12)(B)(iv) —
In the case of a qualified vehicle
to which subparagraph (A)(ii)
does not apply—
I.R.C. § 170(f)(12)(B)(iv)(I) —
a certification of the intended use
or material improvement of the vehicle and the intended duration
of such use, and
I.R.C. § 170(f)(12)(B)(iv)(II) —
a certification that the vehicle
would not be transferred in exchange for money, other property, or
services before completion of such use or improvement.
I.R.C. § 170(f)(12)(B)(v) —
Whether the donee organization provided
any goods or services in consideration, in whole or in part, for
the qualified vehicle.
I.R.C. § 170(f)(12)(B)(vi) —
A description and good faith estimate
of the value of any goods or services referred to in clause (v) or, if such goods or
services consist solely of intangible religious benefits (as defined
in paragraph (8)(B)),
a statement to that effect.
I.R.C. § 170(f)(12)(C) Contemporaneous —
For purposes of subparagraph (A), an acknowledgement shall
be considered to be contemporaneous if the donee organization provides
it within 30 days of—
I.R.C. § 170(f)(12)(C)(i) —
the sale of the qualified vehicle,
or
I.R.C. § 170(f)(12)(C)(ii) —
in the case of an acknowledgement
including a certification described in subparagraph (B)(iv), the contribution
of the qualified vehicle.
I.R.C. § 170(f)(12)(D) Information To Secretary —
A donee organization required to provide an acknowledgement
under this paragraph shall provide to the Secretary the information
contained in the acknowledgement. Such information shall be provided
at such time and in such manner as the Secretary may prescribe.
I.R.C. § 170(f)(12)(E) Qualified Vehicle —
For purposes of this paragraph, the term “qualified
vehicle” means any—
I.R.C. § 170(f)(12)(E)(i) —
motor vehicle manufactured primarily
for use on public streets, roads, and highways,
I.R.C. § 170(f)(12)(E)(ii) —
boat, or
I.R.C. § 170(f)(12)(E)(iii) —
airplane.
Such term shall not include any
property which is described in section 1221(a)(1).
I.R.C. § 170(f)(12)(F) Regulations Or Other Guidance —
The Secretary shall prescribe such regulations or
other guidance as may be necessary to carry out the purposes of
this paragraph. The Secretary may prescribe regulations or other
guidance which exempts sales by the donee organization which are
in direct furtherance of such organization's charitable purpose from
the requirements of subparagraphs (A)(ii) and (B)(iv)(II).
I.R.C. § 170(f)(13) Contributions Of Certain Interests In Buildings Located In Registered
Historic Districts
I.R.C. § 170(f)(13)(A) In General —
No deduction shall be allowed with respect to any contribution
described in subparagraph (B) unless
the taxpayer includes with the return for the taxable year of the
contribution a $500 filing fee.
I.R.C. § 170(f)(13)(B) Contribution Described —
A contribution is described in this subparagraph if
such contribution is a qualified conservation contribution (as defined
in subsection (h)) which
is a restriction with respect to the exterior of a building described
in subsection (h)(4)(C)(ii) and
for which a deduction is claimed in excess of $10,000.
I.R.C. § 170(f)(13)(C) Dedication Of Fee —
Any fee collected under this paragraph shall be used
for the enforcement of the provisions of subsection (h).
I.R.C. § 170(f)(14) Reduction For Amounts Attributable To Rehabilitation Credit —
In the case of any qualified conservation contribution
(as defined in subsection (h)),
the amount of the deduction allowed under this section shall be reduced
by an amount which bears the same ratio to the fair market value
of the contribution as—
I.R.C. § 170(f)(14)(A) —
the sum of the credits allowed to
the taxpayer under section 47 for
the 5 preceding taxable years with respect to any building which
is a part of such contribution, bears to
I.R.C. § 170(f)(14)(B) —
the fair market value of the building
on the date of the contribution.
I.R.C. § 170(f)(15) Special Rule For Taxidermy Property
I.R.C. § 170(f)(15)(A) Basis —
For purposes of this section and notwithstanding section 1012, in the case of a charitable
contribution of taxidermy property which is made by the person who
prepared, stuffed, or mounted the property or by any person who paid
or incurred the cost of such preparation, stuffing, or mounting,
only the cost of the preparing, stuffing, or mounting shall be included
in the basis of such property.
I.R.C. § 170(f)(15)(B) Taxidermy Property —
For purposes of this section, the term “taxidermy property"
means any work of art which—
I.R.C. § 170(f)(15)(B)(i) —
is the reproduction or preservation
of an animal, in whole or in part,
I.R.C. § 170(f)(15)(B)(ii) —
is prepared, stuffed, or mounted
for purposes of recreating one or more characteristics of such animal,
and
I.R.C. § 170(f)(15)(B)(iii) —
contains a part of the body of the
dead animal.
I.R.C. § 170(f)(16) Contributions Of Clothing And Household Items
I.R.C. § 170(f)(16)(A) In General —
In the case of an individual, partnership, or corporation,
no deduction shall be allowed under subsection (a) for any contribution of clothing
or a household item unless such clothing or household item is in good
used condition or better.
I.R.C. § 170(f)(16)(B) Items Of Minimal Value —
Notwithstanding subparagraph (A), the Secretary may by regulation
deny a deduction under subsection (a) for
any contribution of clothing or a household item which has minimal
monetary value.
I.R.C. § 170(f)(16)(C) Exception For Certain Property —
Subparagraphs (A) and (B) shall not apply to any contribution
of a single item of clothing or a household item for which a deduction
of more than $500 is claimed if the taxpayer includes with the taxpayer's
return a qualified appraisal with respect to the property.
I.R.C. § 170(f)(16)(D) Household Items —
For purposes of this paragraph—
I.R.C. § 170(f)(16)(D)(i) In General —
The term “household items” includes furniture, furnishings,
electronics, appliances, linens, and other similar items.
I.R.C. § 170(f)(16)(D)(ii) Excluded Items —
Such term does not include—
I.R.C. § 170(f)(16)(D)(ii)(I) —
food,
I.R.C. § 170(f)(16)(D)(ii)(II) —
paintings, antiques, and other objects
of art,
I.R.C. § 170(f)(16)(D)(ii)(III) —
jewelry and gems, and
I.R.C. § 170(f)(16)(D)(ii)(IV) —
collections.
I.R.C. § 170(f)(16)(E) Special Rule For Pass-Thru Entities —
In the case of a partnership or S corporation, this
paragraph shall be applied at the entity level, except that the deduction
shall be denied at the partner or shareholder level.
I.R.C. § 170(f)(17) Recordkeeping —
No deduction shall be allowed under subsection (a) for any contribution of a cash,
check, or other monetary gift unless the donor maintains as a record
of such contribution a bank record or a written communication from
the donee showing the name of the donee organization, the date of
the contribution, and the amount of the contribution.
I.R.C. § 170(f)(18) Contributions To Donor Advised Funds —
A deduction otherwise allowed under subsection (a) for any contribution to a donor
advised fund (as defined in section 4966(d)(2)) shall only
be allowed if—
I.R.C. § 170(f)(18)(A) —
the sponsoring organization (as defined
in section 4966(d)(1))
with respect to such donor advised fund is not—
I.R.C. § 170(f)(18)(A)(i) —
described in paragraph (3), (4),
or (5) of subsection (c), or
I.R.C. § 170(f)(18)(A)(ii) —
a type III supporting organization
(as defined in section 4943(f)(5)(A))
which is not a functionally integrated type III supporting organization
(as defined in section 4943(f)(5)(B)),
and
I.R.C. § 170(f)(18)(B) —
the taxpayer obtains a contemporaneous
written acknowledgment (determined under rules similar to the rules
of paragraph (8)(C))
from the sponsoring organization (as so defined) of such donor advised
fund that such organization has exclusive legal control over the
assets contributed.
I.R.C. § 170(f)(19) Certain Qualified Conservation Contributions
I.R.C. § 170(f)(19)(A) In General —
In the case of a qualified conservation contribution
to which this paragraph applies, no deduction shall be allowed under
subsection (a) for such contribution unless the partnership making
such contribution—
I.R.C. § 170(f)(19)(A)(i) —
includes on its return for the taxable
year in which the contribution is made a statement that the partnership
made such a contribution, and
I.R.C. § 170(f)(19)(A)(ii) —
provides such information about the
contribution as the Secretary may require.
I.R.C. § 170(f)(19)(B) Contributions to Which this Paragraph Applies —
This paragraph shall apply to any qualified conservation
contribution—
I.R.C. § 170(f)(19)(B)(i) —
the conservation purpose of which is
the preservation of any building which is a certified historic structure
(as defined in subsection (h)(4)(C)),
I.R.C. § 170(f)(19)(B)(ii) —
which is made by a partnership (whether
directly or as a distributive share of a contribution of another partnership),
and
I.R.C. § 170(f)(19)(B)(iii) —
the amount of which exceeds 2.5 times
the sum of each partner's relevant basis (as defined in subsection
(h)(7)) in the partnership making the contribution.
I.R.C. § 170(f)(19)(C) Application to Other Pass-through Entities —
Except as may be otherwise provided by the Secretary,
the rules of this paragraph shall apply to S corporations and other
pass-through entities in the same manner as such rules apply to partnerships.
I.R.C. § 170(g) Amounts Paid To Maintain Certain Students As Members Of Taxpayer's
Household
I.R.C. § 170(g)(1) In General —
Subject to the limitations provided by paragraph (2), amounts paid by the taxpayer
to maintain an individual (other than a dependent, as defined in
section 152 (determined without
regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof), or a relative
of the taxpayer) as a member of his household during the period that
such individual is—
I.R.C. § 170(g)(1)(A) —
a member of the taxpayer's household
under a written agreement between the taxpayer and an organization
described in paragraph (2), (3), or (4) of subsection (c) to implement a program of the organization
to provide educational opportunities for pupils or students in private
homes, and
I.R.C. § 170(g)(1)(B) —
a full-time pupil or student in the
twelfth or any lower grade at an educational organization described
in section 170(b)(1)(A)(ii) located
in the United States, shall be treated as amounts paid for the use
of the organization.
I.R.C. § 170(g)(2) Limitations
I.R.C. § 170(g)(2)(A) Amount —
Paragraph (1) shall
apply to amounts paid within the taxable year only to the extent
that such amounts do not exceed $50 multiplied by the number of full
calendar months during the taxable year which fall within the period
described in paragraph (1).
For purposes of the preceding sentence, if 15 or more days of a calendar
month fall within such period such month shall be considered as a
full calendar month.
I.R.C. § 170(g)(2)(B) Compensation Or Reimbursement —
Paragraph (1) shall
not apply to any amount paid by the taxpayer within the taxable year
if the taxpayer receives any money or other property as compensation
or reimbursement for maintaining the individual in his household
during the period described in paragraph (1).
I.R.C. § 170(g)(3) Relative Defined —
For purposes of paragraph (1), the term “relative of the taxpayer"
means an individual who, with respect to the taxpayer, bears any
of the relationships described in subparagraphs (A) through (G) of section 152(d)(2).
I.R.C. § 170(g)(4) No Other Amount Allowed As Deduction —
No deduction shall be allowed under subsection (a) for any amount paid by a taxpayer
to maintain an individual as a member of his household under a program
described in paragraph (1)(A) except
as provided in this subsection.
I.R.C. § 170(h) Qualified Conservation Contribution
I.R.C. § 170(h)(1) In General —
For purposes of subsection (f)(3)(B)(iii), the term
“qualified conservation contribution” means a contribution—
I.R.C. § 170(h)(1)(A) —
of a qualified real property interest,
I.R.C. § 170(h)(1)(B) —
to a qualified organization,
I.R.C. § 170(h)(1)(C) —
exclusively for conservation purposes.
I.R.C. § 170(h)(2) Qualified Real Property Interest —
For purposes of this subsection, the term “qualified
real property interest” means any of the following interests in real
property:
I.R.C. § 170(h)(2)(A) —
the entire interest of the donor other
than a qualified mineral interest,
I.R.C. § 170(h)(2)(B) —
a remainder interest, and
I.R.C. § 170(h)(2)(C) —
a restriction (granted in perpetuity)
on the use which may be made of the real property.
I.R.C. § 170(h)(3) Qualified Organization —
For purposes of paragraph (1), the term “qualified organization"
means an organization which—
I.R.C. § 170(h)(3)(A) —
is described in clause (v) or (vi) of subsection (b)(1)(A), or
I.R.C. § 170(h)(3)(B) —
is described in section 501(c)(3) and—
I.R.C. § 170(h)(3)(B)(i) —
meets the requirements of section 509(a)(2), or
I.R.C. § 170(h)(3)(B)(ii) —
meets the requirements of section 509(a)(3) and is controlled
by an organization described in subparagraph (A) or in clause (i) of this subparagraph.
I.R.C. § 170(h)(4) Conservation Purpose Defined
I.R.C. § 170(h)(4)(A) In General —
For purposes of this subsection, the term “conservation
purpose” means—
I.R.C. § 170(h)(4)(A)(i) —
the preservation of land areas for
outdoor recreation by, or the education of, the general public,
I.R.C. § 170(h)(4)(A)(ii) —
the protection of a relatively natural
habitat of fish, wildlife, or plants, or similar ecosystem,
I.R.C. § 170(h)(4)(A)(iii) —
the preservation of open space (including
farmland and forest land) where such preservation is—
I.R.C. § 170(h)(4)(A)(iii)(I) —
for the scenic enjoyment of the general
public, or
I.R.C. § 170(h)(4)(A)(iii)(II) —
pursuant to a clearly delineated Federal,
State, or local governmental conservation policy, and will yield
a significant public benefit, or
I.R.C. § 170(h)(4)(A)(iv) —
the preservation of an historically
important land area or a certified historic structure.
I.R.C. § 170(h)(4)(B) Special Rules With Respect To Buildings In Registered Historic
Districts —
In the case of any contribution of a qualified real
property interest which is a restriction with respect to the exterior
of a building described in subparagraph (C)(ii), such contribution
shall not be considered to be exclusively for conservation purposes
unless—
I.R.C. § 170(h)(4)(B)(i) —
such interest—
I.R.C. § 170(h)(4)(B)(i)(I) —
includes a restriction which preserves
the entire exterior of the building (including the front, sides,
rear, and height of the building), and
I.R.C. § 170(h)(4)(B)(i)(II) —
prohibits any change in the exterior
of the building which is inconsistent with the historical character
of such exterior,
I.R.C. § 170(h)(4)(B)(ii) —
the donor and donee enter into a
written agreement certifying, under penalty of perjury, that the donee—
I.R.C. § 170(h)(4)(B)(ii)(I) —
is a qualified organization (as defined
in paragraph (3)) with
a purpose of environmental protection, land conservation, open space
preservation, or historic preservation, and
I.R.C. § 170(h)(4)(B)(ii)(II) —
has the resources to manage and enforce
the restriction and a commitment to do so, and
I.R.C. § 170(h)(4)(B)(iii) —
in the case of any contribution
made in a taxable year beginning after the date of the enactment
of this subparagraph, the taxpayer includes with the taxpayer's return
for the taxable year of the contribution—
I.R.C. § 170(h)(4)(B)(iii)(I) —
a qualified appraisal (within the
meaning of subsection (f)(11)(E))
of the qualified property interest,
I.R.C. § 170(h)(4)(B)(iii)(II) —
photographs of the entire exterior
of the building, and
I.R.C. § 170(h)(4)(B)(iii)(III) —
a description of all restrictions
on the development of the building.
I.R.C. § 170(h)(4)(C) Certified Historic Structure —
For purposes of subparagraph (A)(iv), the term “certified
historic structure” means—
I.R.C. § 170(h)(4)(C)(i) —
any building, structure, or land area
which is listed in the National Register, or
I.R.C. § 170(h)(4)(C)(ii) —
any building which is located in a
registered historic district (as defined in section 47(c)(3)(B)) and is certified
by the Secretary of the Interior to the Secretary as being of historic
significance to the district.
A building, structure, or land area satisfies the preceding
sentence if it satisfies such sentence either at the time of the
transfer or on the due date (including extensions) for filing the
transferor's return under this chapter for the taxable year in which
the transfer is made.
I.R.C. § 170(h)(5) Exclusively For Conservation Purposes —
For purposes of this subsection—
I.R.C. § 170(h)(5)(A) Conservation Purpose Must Be Protected —
A contribution shall not be treated as exclusively
for conservation purposes unless the conservation purpose is protected
in perpetuity.
I.R.C. § 170(h)(5)(B) No Surface Mining Permitted
I.R.C. § 170(h)(5)(B)(i) In General —
Except as provided in clause (ii), in the case of a contribution
of any interest where there is a retention of a qualified mineral
interest, subparagraph (A) shall
not be treated as met if at any time there may be extraction or removal
of minerals by any surface mining method.
I.R.C. § 170(h)(5)(B)(ii) Special Rule —
With respect to any contribution of property in which
the ownership of the surface estate and mineral interests has been
and remains separated, subparagraph (A) shall
be treated as met if the probability of surface mining occurring
on such property is so remote as to be negligible.
I.R.C. § 170(h)(6) Qualified Mineral Interest —
For purposes of this subsection, the term “qualified
mineral interest” means—
I.R.C. § 170(h)(6)(A) —
subsurface oil, gas, or other minerals,
and
I.R.C. § 170(h)(6)(B) —
the right to access to such minerals.
I.R.C. § 170(h)(7) Limitation on Deduction for Qualified Conservation Contributions
Made by Pass-Through Entities.—
I.R.C. § 170(h)(7)(A) In General —
A contribution by a partnership (whether directly or
as a distributive share of a contribution of another partnership)
shall not be treated as a qualified conservation contribution for
purposes of this section if the amount of such contribution exceeds
2.5 times the sum of each partner's relevant basis in such partnership.
I.R.C. § 170(h)(7)(B) Relevant Basis —
For purposes of this paragraph—
I.R.C. § 170(h)(7)(B)(i) In General —
The term ‘relevant basis’ means, with respect
to any partner, the portion of such partner's modified basis
in the partnership which is allocable (under rules similar to the
rules of section 755) to the portion of the real property with respect
to which the contribution described in subparagraph (A) is made.
I.R.C. § 170(h)(7)(B)(ii) Modified Basis —
The term ‘modified basis’ means, with respect
to any partner, such partner's adjusted basis in the partnership
as determined—
I.R.C. § 170(h)(7)(B)(ii)(I) —
immediately before the contribution
described in subparagraph (A),
I.R.C. § 170(h)(7)(B)(ii)(II) —
without regard to section 752, and
I.R.C. § 170(h)(7)(B)(ii)(III) —
by the partnership after taking into
account the adjustments described in subclauses (I) and (II) and such
other adjustments as the Secretary may provide.
I.R.C. § 170(h)(7)(C) Exception for Contributions Outside 3-Year Holding Period —
Subparagraph (A) shall not apply to any contribution
which is made at least 3 years after the latest of—
I.R.C. § 170(h)(7)(C)(i) —
the last date on which the partnership
that made such contribution acquired any portion of the real property
with respect to which such contribution is made,
I.R.C. § 170(h)(7)(C)(ii) —
the last date on which any partner in
the partnership that made such contribution acquired any interest
in such partnership, and
I.R.C. § 170(h)(7)(C)(iii) —
if the interest in the partnership
that made such contribution is held through 1 or more partnerships—
I.R.C. § 170(h)(7)(C)(iii)(I) —
the last date on which any such partnership
acquired any interest in any other such partnership, and
I.R.C. § 170(h)(7)(C)(iii)(II) —
the last date on which any partner in
any such partnership acquired any interest in such partnership.
I.R.C. § 170(h)(7)(D) Exception for Family Partnerships
I.R.C. § 170(h)(7)(D)(i) In General —
Subparagraph (A) shall not apply with respect to any
contribution made by any partnership if substantially all of the partnership
interests in such partnership are held, directly or indirectly, by
an individual and members of the family of such individual.
I.R.C. § 170(h)(7)(D)(ii) Members of the Family —
For purposes of this subparagraph, the term ‘members
of the family’ means, with respect to any individual—
I.R.C. § 170(h)(7)(D)(ii)(I) —
the spouse of such individual, and
I.R.C. § 170(h)(7)(D)(ii)(II) —
any individual who bears a relationship
to such individual which is described in subparagraphs (A) through
(G) of section 152(d)(2).
I.R.C. § 170(h)(7)(E) Exception for Contributions To Preserve Certified Historic Structures —
Subparagraph (A) shall not apply to any qualified conservation
contribution the conservation purpose of which is the preservation
of any building which is a certified historic structure (as defined
in paragraph (4)(C)).
I.R.C. § 170(h)(7)(F) Application to Other Pass-through Entities —
Except as may be otherwise provided by the Secretary,
the rules of this paragraph shall apply to S corporations and other
pass-through entities in the same manner as such rules apply to partnerships.
I.R.C. § 170(h)(7)(G) Regulations —
The Secretary shall prescribe such regulations or other
guidance as may be necessary or appropriate to carry out the purposes
of this paragraph, including regulations or other guidance—
I.R.C. § 170(h)(7)(G)(i) —
to require reporting, including reporting
related to tiered partnerships and the modified basis of partners,
and
I.R.C. § 170(h)(7)(G)(ii) —
to prevent the avoidance of the purposes
of this paragraph.
I.R.C. § 170(i) Standard Mileage Rate For Use Of Passenger Automobile —
For purposes of computing the deduction under this
section for use of a passenger automobile, the standard mileage rate
shall be 14 cents per mile.
I.R.C. § 170(j) Denial Of Deduction For Certain Travel Expenses —
No deduction shall be allowed under this section for
traveling expenses (including amounts expended for meals and lodging)
while away from home, whether paid directly or by reimbursement,
unless there is no significant element of personal pleasure, recreation,
or vacation in such travel.
I.R.C. § 170(k) Disallowance Of Deductions In Certain Cases —
[Repealed. Pub. L. 113-295,
Div. A, title II, Sec. 221(a)(28)(C).]
I.R.C. § 170(l) Treatment Of Certain Amounts Paid To Or For The Benefit Of Institutions
Of Higher Education
I.R.C. § 170(l)(1) In General —
No deduction shall be allowed under this section for
any amount described in paragraph (2).
I.R.C. § 170(l)(2) Amount Described —
For purposes of paragraph (1), an amount is described in this
paragraph if—
I.R.C. § 170(l)(2)(A) —
the amount is paid by the taxpayer
to or for the benefit of an educational organization—
I.R.C. § 170(l)(2)(A)(i) —
which is described in subsection (b)(1)(A)(ii), and
I.R.C. § 170(l)(2)(A)(ii) —
which is an institution of higher
education (as defined in section 3304(f)),
and
I.R.C. § 170(l)(2)(B) —
the taxpayer receives (directly or indirectly)
as a result of paying such amount the right to purchase tickets for
seating at an athletic event in an athletic stadium of such institution.
If any portion of a payment is for the purchase of such
tickets, such portion and the remaining portion (if any) of such
payment shall be treated as separate amounts for purposes of this
subsection.
I.R.C. § 170(m) Certain Donee Income From Intellectual Property Treated As An
Additional Charitable Contribution
I.R.C. § 170(m)(1) Treatment As Additional Contribution —
In the case of a taxpayer who makes a qualified intellectual
property contribution, the deduction allowed under subsection (a) for each taxable year of the taxpayer
ending on or after the date of such contribution shall be increased
(subject to the limitations under subsection (b)) by the applicable percentage of
qualified donee income with respect to such contribution which is
properly allocable to such year under this subsection.
I.R.C. § 170(m)(2) Reduction In Additional Deductions To Extent Of Initial Deduction —
With respect to any qualified intellectual property
contribution, the deduction allowed under subsection (a) shall be increased under paragraph (1) only to the extent that the
aggregate amount of such increases with respect to such contribution
exceed the amount allowed as a deduction under subsection (a) with respect to such contribution
determined without regard to this subsection.
I.R.C. § 170(m)(3) Qualified Donee Income —
For purposes of this subsection, the term “qualified
donee income” means any net income received by or accrued to
the donee which is properly allocable to the qualified intellectual
property.
I.R.C. § 170(m)(4) Allocation Of Qualified Donee Income To Taxable Years Of Donor —
For purposes of this subsection, qualified donee income
shall be treated as properly allocable to a taxable year of the donor
if such income is received by or accrued to the donee for the
taxable year of the donee which ends within or with such taxable
year of the donor.
I.R.C. § 170(m)(5) 10-Year Limitation —
Income shall not be treated as properly allocable to
qualified intellectual property for purposes of this subsection if
such income is received by or accrued to the donee after the 10-year
period beginning on the date of the contribution of such property.
I.R.C. § 170(m)(6) Benefit Limited To Life Of Intellectual Property —
Income shall not be treated as properly allocable
to qualified intellectual property for purposes of this subsection
if such income is received by or accrued to the donee after the
expiration of the legal life of such property.
I.R.C. § 170(m)(7) Applicable Percentage —
For purposes of this subsection, the term “applicable
percentage” means the percentage determined under the following
table which corresponds to a taxable year of the donor ending on
or after the date of the qualified intellectual property contribution:
Taxable Year of Donor Ending on or After Date of Contribution Applicable Percentage 1st 100 2nd 100 3rd 90 4th 80 5th 70 6th 60 7th 50 8th 40 9th 30 10th 20 11th 10 12th 10.
I.R.C. § 170(m)(8) Qualified Intellectual Property Contribution —
For purposes of this subsection, the term “qualified
intellectual property contribution” means any charitable contribution
of qualified intellectual property
I.R.C. § 170(m)(8)(A) —
the amount of which taken into account
under this section is reduced by reason of subsection (e)(1), and
I.R.C. § 170(m)(8)(B) —
with respect to which the donor informs
the donee at the time of such contribution that the donor intends
to treat such contribution as a qualified intellectual property contribution
for purposes of this subsection and section 6050L.
I.R.C. § 170(m)(9) Qualified Intellectual Property —
For purposes of this subsection, the term “qualified
intellectual property” means property described in subsection (e)(1)(B)(iii) (other than
property contributed to or for the use of an organization described
in subsection (e)(1)(B)(ii)).
I.R.C. § 170(m)(10) Other Special Rules
I.R.C. § 170(m)(10)(A) Application Of Limitations On Charitable Contributions —
Any increase under this subsection of the deduction
provided under subsection (a) shall
be treated for purposes of subsection (b) as
a deduction which is attributable to a charitable contribution to
the donee to which such increase relates.
I.R.C. § 170(m)(10)(B) Net Income Determined By Donee —
The net income taken into account under paragraph (3) shall not exceed the amount
of such income reported under section 6050L(b)(1).
I.R.C. § 170(m)(10)(C) Deduction Limited To 12 Taxable Years —
Except as may be provided under subparagraph (D)(i), this subsection shall
not apply with respect to any qualified intellectual property contribution
for any taxable year of the donor after the 12th taxable year of
the donor which ends on or after the date of such contribution.
I.R.C. § 170(m)(10)(D) Regulations —
The Secretary may issue regulations or other guidance
to carry out the purposes of this subsection, including regulations
or guidance—
I.R.C. § 170(m)(10)(D)(i) —
modifying the application of this
subsection in the case of a donor or donee with a short taxable year,
and
I.R.C. § 170(m)(10)(D)(ii) —
providing for the determination of
an amount to be treated as net income of the donee which is properly
allocable to qualified intellectual property in the case of a donee
who uses such property to further a purpose or function constituting
the basis of the donee's exemption under section 501 (or, in the case of a governmental
unit, any purpose described in section 170(c)) and does not possess
a right to receive any payment from a third party with respect to
such property.
I.R.C. § 170(n) Expenses Paid By Certain Whaling Captains In Support Of Native
Alaskan Subsistence Whaling
I.R.C. § 170(n)(1) In General —
In the case of an individual who is recognized by
the Alaska Eskimo Whaling Commission as a whaling captain charged
with the responsibility of maintaining and carrying out sanctioned
whaling activities and who engages in such activities during the
taxable year, the amount described in paragraph (2) (to the extent such amount
does not exceed $10,000 for the taxable year) shall be treated for
purposes of this section as a charitable contribution.
I.R.C. § 170(n)(2) Amount Described
I.R.C. § 170(n)(2)(A) In General —
The amount described in this paragraph is the aggregate
of the reasonable and necessary whaling expenses paid by the taxpayer
during the taxable year in carrying out sanctioned whaling activities.
I.R.C. § 170(n)(2)(B) Whaling Expenses —
For purposes of subparagraph (A), the term “whaling
expenses” includes expenses for—
I.R.C. § 170(n)(2)(B)(i) —
the acquisition and maintenance of
whaling boats, weapons, and gear used in sanctioned whaling activities,
I.R.C. § 170(n)(2)(B)(ii) —
the supplying of food for the crew
and other provisions for carrying out such activities, and
I.R.C. § 170(n)(2)(B)(iii) —
storage and distribution of the
catch from such activities.
I.R.C. § 170(n)(3) Sanctioned Whaling Activities —
For purposes of this subsection, the term “sanctioned
whaling activities” means subsistence bowhead whale hunting
activities conducted pursuant to the management plan of the Alaska
Eskimo Whaling Commission.
I.R.C. § 170(n)(4) Substantiation Of Expenses —
The Secretary shall issue guidance requiring that
the taxpayer substantiate the whaling expenses for which a deduction
is claimed under this subsection, including by maintaining appropriate
written records with respect to the time, place, date, amount, and
nature of the expense, as well as the taxpayer's eligibility for
such deduction, and that (to the extent provided by the Secretary)
such substantiation be provided as part of the taxpayer's return
of tax.
I.R.C. § 170(o) Special Rules For Fractional Gifts
I.R.C. § 170(o)(1) Denial Of Deduction In Certain Cases
I.R.C. § 170(o)(1)(A) In General —
No deduction shall be allowed for a contribution of
an undivided portion of a taxpayer's entire interest in tangible
personal property unless all interests in the property are held immediately
before such contribution by—
I.R.C. § 170(o)(1)(A)(i) —
the taxpayer, or
I.R.C. § 170(o)(1)(A)(ii) —
the taxpayer and the donee.
I.R.C. § 170(o)(1)(B) Exceptions —
The Secretary may, by regulation, provide for exceptions
to subparagraph (A) in
cases where all persons who hold an interest in the property make
proportional contributions of an undivided portion of the entire
interest held by such persons.
I.R.C. § 170(o)(2) Valuation Of Subsequent Gifts —
In the case of any additional contribution, the fair
market value of such contribution shall be determined by using the
lesser of—
I.R.C. § 170(o)(2)(A) —
the fair market value of the property
at the time of the initial fractional contribution, or
I.R.C. § 170(o)(2)(B) —
the fair market value of the property
at the time of the additional contribution.
I.R.C. § 170(o)(3) Recapture Of Deduction In Certain Cases; Addition To Tax
I.R.C. § 170(o)(3)(A) Recapture —
The Secretary shall provide for the recapture of the
amount of any deduction allowed under this section (plus interest)
with respect to any contribution of an undivided portion of a taxpayer's
entire interest in tangible personal property—
I.R.C. § 170(o)(3)(A)(i) —
in any case in which the donor does
not contribute all of the remaining interests in such property to
the donee (or, if such donee is no longer in existence, to any person
described in section 170(c))
on or before the earlier of--
I.R.C. § 170(o)(3)(A)(i)(I) —
the date that is 10 years after the
date of the initial fractional contribution, or
I.R.C. § 170(o)(3)(A)(i)(II) —
the date of the death of the donor,
and
I.R.C. § 170(o)(3)(A)(ii) —
in any case in which the donee has
not, during the period beginning on the date of the initial fractional
contribution and ending on the date described in clause (i)—
I.R.C. § 170(o)(3)(A)(ii)(I) —
had substantial physical possession
of the property, and
I.R.C. § 170(o)(3)(A)(ii)(II) —
used the property in a use which
is related to a purpose or function constituting the basis for the
organizations' exemption under section 501.
I.R.C. § 170(o)(3)(B) Addition To Tax —
The tax imposed under this chapter for any taxable
year for which there is a recapture under subparagraph (A) shall be increased by 10
percent of the amount so recaptured.
I.R.C. § 170(o)(4) Definitions —
For purposes of this subsection—
I.R.C. § 170(o)(4)(A) Additional Contribution —
The term “additional contribution” means any charitable
contribution by the taxpayer of any interest in property with respect
to which the taxpayer has previously made an initial fractional
contribution.
I.R.C. § 170(o)(4)(B) Initial Fractional Contribution —
The term “initial fractional contribution” means, with
respect to any taxpayer, the first charitable contribution of an
undivided portion of the taxpayer's entire interest in any tangible
personal property.
I.R.C. § 170(p) Special Rule for Taxpayers Who Do Not Elect To Itemize Deductions —
In the case of any taxable year beginning in 2021, if
the individual does not elect to itemize deductions for such taxable
year, the deduction under this section shall be equal to the deduction,
not in excess of $300 ($600 in the case of a joint return), which
would be determined under this section if the only charitable contributions
taken into account in determining such deduction were contributions
made in cash during such taxable year (determined without regard to
subsections (b)(1)(G)(ii) and (d)(1)) to an organization described
in section 170(b)(1)(A) and
not—
I.R.C. § 170(p)(1) —
to an organization described in section 509(a)(3), or
I.R.C. § 170(p)(2) —
for the establishment of a new, or maintenance
of an existing, donor advised fund (as defined in section 4966(d)(2)).
I.R.C. § 170(q) Other Cross References
I.R.C. § 170(q)(1) —
For treatment of certain organizations
providing child care, see section 501(k).
I.R.C. § 170(q)(2) —
For charitable contributions of estates
and trusts, see section 642(c).
I.R.C. § 170(q)(3) —
For nondeductibility of contributions
by common trust funds, see section 584.
I.R.C. § 170(q)(4) —
For charitable contributions of partners,
see section 702.
I.R.C. § 170(q)(5) —
For charitable contributions of nonresident
aliens, see section 873.
I.R.C. § 170(q)(6) —
For treatment of gifts for benefit
of or use in connection with the Naval Academy as gifts to or for
use of the United States, see section 8473 of title 10, United States
Code.
I.R.C. § 170(q)(7) —
For treatment of gifts accepted by
the Secretary of State, the Director of the International Communication
Agency, or the Director of the United States International Development
Cooperation Agency, as gifts to or for the use of the United States,
see section 25 of the State Department Basic Authorities Act of 1956.
I.R.C. § 170(q)(8) —
For treatment of gifts of money accepted
by the Attorney General for credit to the “Commissary Funds Federal
Prisons” as gifts to or for the use of the United States, see section
4043 of title 18, United States Code.
I.R.C. § 170(q)(9) —
For charitable contributions to
or for the use of Indian tribal governments (or their subdivisions),
see section 7871.
(Aug. 16, 1954, ch. 736, 68A Stat. 58; Aug. 7, 1956,
ch. 1031, Sec. 1, 70 Stat. 1117;
Sept. 2, 1958, Pub. L. 85-866,
title I, Sec. 10(a), 11, 12(a), 72 Stat.
1609, 1610; Sept. 14, 1960, Pub.
L. 86-779, Sec. 7(a), 74
Stat. 1002; Oct. 16, 1962, Pub. L. 87-834, Sec. 13(d), 76 Stat. 1034; Oct. 23, 1962, Pub. L. 87-858, Sec. 2(a), (b), 76 Stat. 1134; Feb. 26, 1964, Pub. L. 88-272, title II, Sec. 209(a),
(b), (c)(1), (d)(1), (e), 231(b)(1), 78
Stat. 43, 45-47, 105; Sept. 12, 1966, Pub. L. 89-570, Sec. 1(b)(1), 80 Stat. 762; Dec. 30, 1969, Pub. L. 91-172, title I, Sec. 101(j)(2),
title II, Sec. 201(a)(1), (2)(A), (h)(1), 83
Stat. 526, 549, 558, 565; Oct. 4, 1976, Pub. L. 94-455, title II, Sec. 205(c)(1)(A),
title X, Sec. 1052(c)(2), title XIII, Sec. 1307(c), (d)(1)(B)(i),
1313(b)(1), title XIX, Sec. 1901(a)(28), (b)(8)(A), 1906(b)(13)(A),
title XXI, Sec. 2124(e)(1), 2135(a), 90
Stat. 1535, 1648, 1726, 1727, 1730, 1768, 1794, 1834, 1919,
1928; May 23, 1977, Pub. L. 95-30,
title III, Sec. 309(a), 91 Stat. 154;
Nov. 6, 1978, Pub. L. 95-600,
title IV, Sec. 402(b)(2), 403(c)(1), 92
Stat. 2868; Oct. 17, 1980, Pub.
L. 96-465, title II, Sec. 2206(e)(2), 94 Stat. 2162; Dec. 17, 1980, Pub. L. 96-541, Sec. 6(a), (b),
94 Stat. 3206; Aug. 13, 1981, Pub. L. 97-34, title I, Sec. 121(a),
title II, Sec. 222(a), 263(a), 95 Stat.
196, 248, 264; Sept. 3, 1982, Pub.
L. 97-248, title II, Sec. 286(b)(1), 96 Stat. 570; Sept. 13, 1982, Pub. L. 97-258, Sec. 3(f)(1), 96 Stat. 1064; Oct. 19, 1982, Pub. L. 97-354, Sec. 5(a)(21), 96 Stat. 1694; Jan. 12, 1983, Pub. L. 97-448, title I, Sec. 102(f)(7), 96 Stat. 2372; Jan. 14, 1983, Pub. L. 97-473, title II, Sec. 202(b)(4), 96 Stat. 2609; July 18, 1984, Pub. L. 98-369, div. A, title I,
Sec. 174(b)(5)(A), title III, Sec. 301(a)-(c), title IV, Sec. 492(b)(1),
title X, Sec. 1022(b), 1031(a), 1032(b)(1), 1035(a), 98 Stat. 707, 777, 778, 854, 1028, 1033,
1042; Oct. 22, 1986, Pub. L. 99-514,
title I, Sec. 142(d), title II, Sec. 231(f), title III, Sec. 301(b)(2),
title XVIII, Sec. 1831, 100 Stat. 2120,
2180, 2217, 2851; Dec. 22, 1987, Pub.
L. 100-203, title X, Sec. 10711(a)(1), 101 Stat. 1330-464; Nov. 10, 1988, Pub. L. 100-647, title VI, Sec.
6001(a), 102 Stat. 3683; Nov.
5, 1990, Pub. L. 101-508,
title XI, Sec. 11801(a)(11), (c)(5), 11813(b)(10), 104 Stat. 1388-520, 1388-523, 1388-554;
Aug. 10, 1993, Pub. L. 103-66,
title XIII, Sec. 13172(a), 13222(b); Aug. 20, 1996, Pub. L. 104-188, Sec. 1206(a),
1316(b), 110 Stat. 1755; Pub. L. 105-34, title II, V, VI,
IX, Sec. 224(a), 508(d), 602(a), 973(a), Aug. 5, 1997, 111 Stat 788; Pub. L. 105-206, title VI, Sec.
6004(e), July 22, 1998, 112 Stat 685; Pub. L. 105-277, title I, Sec.
1004(a), Oct. 21, 1998, 112 Stat 2681; Pub. L. 106-170, title V, Sec.
532(c), 537(a), Dec. 17, 1999, 113 Stat
1860; Pub. L. 106-554,
Sec. 165, Dec. 21, 2000, 114
Stat. 2763; Pub. L. 107-16,
title V, Sec. 542(e), June 7, 2001, 115
Stat. 38; Pub. L. 107-147,
title IV, Sec. 417, Mar. 9, 2002, 116
Stat. 21; Pub. L. 108-311,
title II, III, Sec. 207, 306(a), Oct. 4, 2004, 118 Stat. 1166; Pub. L. 108-357, title III, IV,
VIII, Sec. 335(a), 413(c)(30), 882, 883(a), 884(a), Oct. 22, 2004, 118 Stat. 1418; Sept. 23, 2005, Pub. L. 109-73, title III, Sec. 305,
306, 119 Stat. 2016; Dec.
21, 2005, Pub. L. 109-135,
title IV, Sec. 403(a)(16), (gg), 119
Stat. 2577; May 17, 2006, Pub.
L. 109-222, title II, Sec. 204(b), 120 Stat. 345; Aug. 17, 2006, Pub. L. 109-280, title XII, Sec.
1202, 1204, 1206, 1213, 1214, 1215, 1216, 1217, 1218, 1219, 1234, 120 Stat. 780; Dec. 20, 2006, Pub. L. 109-432, div. A, title I,
Sec. 116, 120 Stat. 2922;
Dec. 29, 2007, Pub. L. 110-172,
Sec. 3(c), 11(a)(14), 11(a)(15), 11(a)(16), 121 Stat. 2473; June 18, 2008, Pub. L. 110-246, title XV, Sec.
15302(a), 122 Stat. 1651; Pub. L. 110-343, div. C, title III,
Sec. 321(a), 323, 324, Oct. 3, 2008, 122
Stat. 3765; Pub. L. 111-312,
title III, Sec. 301(a), title VII, Sec. 723, 740(a), 741(a), 742(a),
Dec. 17, 2010, 124 Stat. 3296; Pub. L. 112-240, title II, III,
Sec. 206, 314(a), Jan. 2, 2013, 126 Stat.
2313; Pub. L. 113-295,
Div. A, title I, Sec. 106, 126(a), title II, Sec. 221(a)(28), Dec.
19, 2014, 128 Stat. 4010; Pub. L. 114-41, title II, Sec. 2006(a)(2)(A),
July 31, 2015, 129 Stat. 443; Pub. L. 114-113, Div. Q, title I, Sec.
111, 113, title III, Sec. 331(a), Dec. 18, 2015; Pub. L. 115-97, title I, Sec. 11011(d)(5),
11023(a), 13305(b)(2), 13704(a), 13705(a), Dec. 22, 2017, 131 Stat. 2054; Pub.
L. 115-141, Div. U, title IV, Sec. 401(a)(52), (b)(14),
Mar. 23, 2018, 132 Stat. 348; Pub. L. 115-232, Div. A, title VIII, Sec.
809(h)(1), Aug. 13, 2018; Pub. L. 116-260,
Div. EE, title I, Sec. 212(a), Dec. 27, 2020, 134 Stat. 1182; Pub. L. 117-328, Div. T, title VI, Sec.
605(a)(1), Sec. 605(b), Dec. 29, 2022.)
BACKGROUND NOTES
AMENDMENTS
2022 —Subsec. (h). Pub. L. 117-328, Div. T, Sec. 605(a)(1),
amended subsec. (h) by adding new par. (7).
Subsec. (f). Pub. L. 117-328, Sec. 605(b), amended subsec.
(b), by adding new par. (19).
2020 —
Subsec. (p)-(q). Pub. L. 116-260,
Div. EE, Sec. 212(a), redesignated subsec. (p) as subsec. (q) and
added a new subsec. (p).
2018--Subsec.
(p)(6). Pub. L. 115-232, Sec.
809(h)(1), amended par. (6) by substituting “section 8473 of
title 10, United States Code” for “section 6973 of title
10, United States Code”.
Subsec. (b)(1)(A)(ix). Pub.
L. 115-141, Div. U, Sec. 401(a)(52), amended clause (ix)
by inserting “National” before “Agricultural”.
Subsec. (e)(3). Pub.
L. 115-141, Div. U, Sec. 401(b)(14), amended par. (3) by
striking subpar. (D) and redesignating subpar. (E) as subpar. (D).
Before being struck, subpar. (D) read as follows:
“(D) Special Rule For Contributions Of Book
Inventory To Public Schools.—
“(i) Contributions Of Book Inventory.—In
determining whether a qualified book contribution is a qualified contribution,
subparagraph (A) shall be applied without regard to whether the donee
is an organization described in the matter preceding clause (i) of
subparagraph (A).
“(ii) Qualified Book Contribution.—For
purposes of this paragraph, the term “qualified book contribution”
means a charitable contribution of books to a public school which
is an educational organization described in subsection (b)(1)(A)(ii)
and which provides elementary education or secondary education (kindergarten
through grade 12).
“(iii) Certification By Donee.—Subparagraph
(A) shall not apply to any contribution of books unless (in addition
to the certifications required by subparagraph (A) (as modified by
this subparagraph)), the donee certifies in writing that—
“(I) the books are suitable, in terms of
currency, content, and quantity, for use in the donee's educational
programs, and
“(II) the donee will use the books in its
educational programs.
“(iv) Termination.—This subparagraph
shall not apply to contributions made after December 31, 2011.”
2017--Subsec. (b)(1)(G)-(H). Pub. L. 115-97, Sec. 11023(a),
amended par. (1) by redesignating subpar. (G) as subpar. (H) and by
adding a new subpar. (G).
Subsec. (b)(2)(D)(iv)-(vi). Pub. L. 115-97, Sec. 11011(d)(5),
amended subpar. (D) by striking “and” at the end of clause
(iv), by striking the period at the end of clause (v), and by adding
clause (vi).
Subsec. (b)(2)(D)(iv)-(vi). Pub. L. 115-97, Sec. 13305(b)(2),
amended subpar. (D) by striking clause (iv) and by redesignating clauses
(v) and (vi) as clauses (iv) and (v), respectively. Before being struck,
clause (iv) read as follows:
“(iv) section 199,”.
Subsec. (f)(8)(D)-(E). Pub. L. 115-97, Sec. 13705(a),
amended par. (8) by striking subpar. (D) and by redesignating subpar.
(E) as subpar. (D). Before being struck, subpar. (D) read as follows:
“(D) Substantiation Not Required For Contributions
Reported By The Donee Organization.— Subparagraph (A) shall
not apply to a contribution if the donee organization files a return,
on such form and in accordance with such regulations as the Secretary
may prescribe, which includes the information described in subparagraph
(B) with respect to the contribution.”
Subsec. (l)(1). Pub.
L. 115-97, Sec. 13704(a)(1), amended par. (1). Before amendment,
it read as follows:
“(1) In General.—For purposes of this
section, 80 percent of any amount described in paragraph (2) shall
be treated as a charitable contribution.”
Subsec. (l)(2)(B). Pub. L. 115-97, Sec. 13704(a)(2),
amended subpar. (B) by striking “such amount would be allowable
as a deduction under this section but for the fact that”.
2015--Subsec. (b)(1)(A)(vii)-(ix). Pub. L. 114-113, Div. Q, Sec. 331(a), amended
subpar. (A) by striking “or” at the end of clause (vii),
by substituting “, or” for the period at the end of clause
(viii) (Note that there was no period at the end of clause (viii)),
and by adding clause (ix).
Subsec. (b)(1)(E)(vi). Pub.
L. 114-113, Div. Q, Sec. 111(a)(1), amended subpar. (E)
by striking clause (vi). Before being struck, it read as follows:
“(vi) Termination.—This subparagraph
shall not apply to any contribution made in taxable years beginning
after December 31, 2014.”
Subsec. (b)(2)(A). Pub.
L. 114-113, Div. Q, Sec. 111(b)(2)(A), amended subpar. (A)
by substituting “subparagraph (B) or (C) applies” for “subparagraph
(B) applies”.
Subsec. (b)(2)(B)(ii). Pub.
L. 114-113, Div. Q, Sec. 111(b)(2)(B), amended clause (ii)
by substituting “15 succeeding taxable years” for “15
succeeding years”.
Subsec. (b)(2)(B)(iii). Pub.
L. 114-113, Div. Q, Sec. 111(a)(2), amended subpar. (B)
by striking clause (iii). Before being struck, it read as follows:
“(iii) Termination.—This subparagraph
shall not apply to any contribution made in taxable years beginning
after December 31, 2014.”
Subsec. (b)(2)(C)-(D). Pub.
L. 114-113, Div. Q, Sec. 111(b)(1), amended par. (2) by
redesignating subpar. (C) as subpar. (D) and by adding a new subpar.
(C).
Subsec. (e)(3)(C)(ii). Pub.
L. 114-113, Div. Q, Sec. 113(b), amended subpar. (C) by
striking clause (ii). Before being struck, it read as follows:
“(ii) Limitation.— In the case of
a taxpayer other than a C corporation, the aggregate amount of such
contributions for any taxable year which may be taken into account
under this section shall not exceed 10 percent of the taxpayer's
aggregate net income for such taxable year from all trades or businesses
from which such contributions were made for such year, computed without
regard to this section.”
Subsec. (e)(3)(C)(iii). Pub.
L. 114-113, Div. Q, Sec. 113(b), amended subpar. (C) by
redesignating clause (iii) as clause (vi).
Subsec. (e)(3)(C)(iv). Pub.
L. 114-113, Div. Q, Sec. 113(a), amended subpar. (C) by
striking clause (iv). Before being struck, it read as follows:
“(iv) Termination.—This subparagraph
shall not apply to contributions made after December 31, 2014.”
Subsec. (e)(3)(C)(ii)-(v). Pub.
L. 114-113, Div. Q, Sec. 113(b), amended subpar. (C) be
adding clauses (ii), (iii), (iv), and (v).
Subsec. (a)(2)(B). Pub. L. 114-41, Sec. 2006(a)(2)(A),
amended subpar. (B) by substituting “fourth month” for “third
month”.
2014 - Subsec. (b)(1)(E)(vi). Pub. L. 113-295, Div. A, Sec. 106(a),
amended clause (vi) by substituting “December 31, 2014”
for “December 31, 2013”.
Subsec. (b)(2)(B)(iii). Pub. L. 113-295, Div. A, Sec. 106(b),
amended clause (iii) by substituting “December 31, 2014”
for “December 31, 2013”.
Subsec. (b)(3). Pub.
L. 113-295, Div. A, Sec. 221(a)(28)(A), amended subsec.
(b) by striking par. (3). Before being struck, it read as follows:
“(3) Temporary Suspension Of Limitations
On Charitable Contributions.—In the case of a qualified farmer
or rancher (as defined in paragraph (1)(E)(v)), any charitable contribution
of food—
“(A) to which subsection (e)(3)(C) applies
(without regard to clause (ii) thereof), and
“(B) which is made during the period beginning
on the date of the enactment of this paragraph and before January
1, 2009,
“shall be treated for purposes of paragraph
(1)(E) or (2)(B), whichever is applicable, as if it were a qualified
conservation contribution which is made by a qualified farmer or rancher
and which otherwise meets the requirements of such paragraph.”
Subsec. (e)(3)(C)(iv). Pub. L. 113-295, Div. A, Sec. 126(a),
amended clause (iv) by substituting “December 31, 2014”
for “December 31, 2013”.
Subsec. (e)(6). Pub.
L. 113-295, Div. A, Sec. 221(a)(28)(B), amended subsec.
(e) by striking par. (6). Before being struck, it read as follows:
“(6) Special Rule For Contributions Of Computer
Technology And Equipment For Educational Purposes.—
“(A) Limit On Reduction.—In the case
of a qualified computer contribution, the reduction under paragraph
(1)(A) shall be no greater than the amount determined under paragraph
(3)(B).
“(B) Qualified Computer Contribution.—For
purposes of this paragraph, the term “qualified computer contribution”
means a charitable contribution by a corporation of any computer technology
or equipment, but only if—
“(i) the contribution is to—
“(I) an educational organization described
in subsection (b)(1)(A)(ii),
“(II) an entity described in section 501(c)(3)
and exempt from tax under section 501(a) (other than an entity described
in subclause (I)) that is organized primarily for purposes of supporting
elementary and secondary education, or
“(III) a public library (within the meaning
of section 213(2)(A) of the Library Services and Technology Act (20 U.S.C. 9122(2)(A)), as
in effect on the date of the enactment of the Community Renewal Tax
Relief Act of 2000), established and maintained by an entity described
in subsection (c)(1),
“(ii) the contribution is made not later
than 3 years after the date the taxpayer acquired the property (or
in the case of property constructed or assembled by the taxpayer,
the date the construction or assembling of the property is substantially
completed),
“(iii) the original use of the property
is by the donor or the donee,
“(iv) substantially all of the use of the
property by the donee is for use within the United States for educational
purposes that are related to the purpose or function of the donee,
“(v) the property is not transferred by
the donee in exchange for money, other property, or services, except
for shipping, installation and transfer costs,
“(vi) the property will fit productively
into the donee's education plan,
“(vii) the donee's use and disposition
of the property will be in accordance with the provisions of clauses
(iv) and (v), and
“(viii) the property meets such standards,
if any, as the Secretary may prescribe by regulation to assure that
the property meets minimum functionality and suitability standards
for educational purposes.
“(C) Contribution To Private Foundation.—A
contribution by a corporation of any computer technology or equipment
to a private foundation (as defined in section 509) shall be treated
as a qualified computer contribution for purposes of this paragraph
if—
“(i) the contribution to the private foundation
satisfies the requirements of clauses (ii) and (v) of subparagraph
(B), and
“(ii) within 30 days after such contribution,
the private foundation—
“(I) contributes the property to a donee
described in clause (i) of subparagraph (B) that satisfies the requirements
of clauses (iv) through (vii) of subparagraph (B), and
“(II) notifies the donor of such contribution.
“(D) Donations Of Property Reacquired By
Manufacturer.—In the case of property which is reacquired by
the person who constructed or assembled the property—
“(i) subparagraph (B)(ii) shall be applied
to a contribution of such property by such person by taking into account
the date that the original construction or assembly of the property
was substantially completed, and
“(ii) subparagraph (B)(iii) shall not apply
to such contribution.
“(E) Special Rule Relating To Construction
Of Property.—For the purposes of this paragraph, the rules of
paragraph (4)(C) shall apply.
“(F) Definitions.—For the purposes
of this paragraph—
“(i) Computer Technology Or Equipment.—The
term “computer technology or equipment” means computer
software (as defined by section 197(e)(3)(B)), computer or peripheral
equipment (as defined by section 168(i)(2)(B)), and fiber optic cable
related to computer use.
“(ii) Corporation.—The term “corporation”
has the meaning given to such term by paragraph (4)(D).
“(G) Termination.—This paragraph shall
not apply to any contribution made during any taxable year beginning
after December 31, 2011.”
Subsec. (k). Pub.
L. 113-295, Div. A, Sec. 221(a)(28)(C), struck subsec.
(k). Before being struck, it read as follows:
“(k) Disallowance Of Deductions In Certain
Cases.—For disallowance of deductions for contributions to
or for the use of communist controlled organizations, see section
11(a) of the Internal Security Act of 1950 (50 U.S.C. 790).”
2013--Subsec. (b)(1)(E)(vi). Pub. L. 112-240, Sec. 206(a),
amended clause (vi) by substituting “December 31, 2013”
for “December 31, 2011”.
Subsec. (b)(2)(B)(iii). Pub. L. 112-240, Sec. 206(b),
amended clause (iii) by substituting “December 31, 2013”
for “December 31, 2011”.
Subsec. (e)(3)(C)(iv). Pub. L. 112-240, Sec. 314(a),
amended clause (iv) by substituting “December 31, 2013”
for “December 31, 2011”.
2010
- Subsec. (b)(1)(E)(vi). Pub.
L. 111-312, Sec. 723(a), amended clause (vi) by substituting “December
31, 2011” for “December 31, 2009”.
Subsec.
(b)(2)(B)(iii). Pub. L. 111-312,
Sec. 723(b), amended clause (iii) by substituting “December
31, 2011” for “December 31, 2009”.
Subsec. (e)(1). Pub. L. 111-312, Sec. 301(a),
amended par. (1) to read as it would read if subtitle E of title V
of Pub. L. 107-16 had
never been enacted. Pub.
L. 107-16, Sec. 542(e)(2)(B), added the following
sentence to the end of par. (1):
“For purposes of this paragraph, the determination
of whether property is a capital asset shall be made without regard
to the exception contained in section 1221(a)(3)(C) for basis determined
under section 1022.”
Subsec. (e)(3)(C)(iv). Pub. L. 111-312, Sec. 740(a),
amended clause (iv) by substituting “December 31, 2011”
for “December 31, 2009”.
Subsec. (e)(3)(D)(iv). Pub. L. 111-312, Sec. 741(a),
amended clause (iv) by substituting “December 31, 2011”
for “December 31, 2009”.
Subsec. (e)(6)(G). Pub. L. 111-312, Sec. 742(a),
amended subpar. (G) by substituting “December 31, 2011”
for “December 31, 2009”.
2008--Subsec. (b)(3). Pub. L. 110-343, Div. C, Sec. 323(b)(1),
amended subsec. (b) by adding par. (3).
Subsec. (e)(3)(C)(iv). Pub. L. 110-343, Div. C, Sec, 323(a)(1),
amended clause (iv) by substituting “December 31, 2009”
for “December 31, 2007”.
Subsec. (e)(3)(D)(iii). Pub. L. 110-343, Div. C, Sec. 324(b),
amended clause (iii) by inserting “of books” after “to
any contribution”.
Subsec. (e)(3)(D)(iv). Pub. L. 110-343, Div. C, Sec. 324(a),
amended clause (iv) by substituting “December 31, 2009”
for “December 31, 2007”.
Subsec. (e)(6)(G). Pub.
L. 110-343, Div. C, Sec. 321(a), amended subpar.
(G) by substituting “December 31, 2009” for “December
31, 2007”.
Subsec. (b)(1)(E)(vi). Pub. L. 110-246, Sec. 15302(a)(1),
amended clause (vi) by substituting “December 31, 2009”
for “December 31, 2007”.
Subsec. (b)(2)(B)(iii). Pub. L. 110-246, Sec. 15302(a)(2),
amended clause (iii) by substituting “December 31, 2009”
for “December 31, 2007”.
2007--Subsec. (b)(1)(A)(vii). Pub. L. 110-172, Sec. 11(a)(14)(A),
amended clause (vii) by substituting “subparagraph (F)”
for “subparagraph (E)”.
Subsec. (e)(1)(B)(i)(II). Pub. L. 110-172, Sec. 11(a)(15),
amended subclause (II) by inserting “, but without regard to
clause (ii) thereof” after “paragraph (7)(C)”.
Subsec. (e)(1)(B)(ii). Pub. L. 110-172, Sec. 11(a)(14)(B),
amended clause (ii) by substituting “subsection (b)(1)(F)”
for “subsection (b)(1)(E)”.
Subsec. (e)(7)(D)(i)(I). Pub. L. 110-172, Sec. 3(c),
amended subclause (I) by substituting “substantial and related”
for “related”.
Subsec. (o)(1)(A). Pub. L. 110-172, Sec. 11(a)(16)(A),
amended subpar. (A) by substituting “all interests in the property
are” for “all interest in the property is”.
Subsec. (o)(3)(A)(i). Pub. L. 110-172, Sec. 11(a)(16)(B),
amended clause (i) by substituting “interests” for “interest”
and on or before” for “before”.
2006 - Subsec. (e)(4)(B)(ii). Pub. L. 109-432, Sec. 116(b)(1)(A),
amended clause (ii) by inserting “or assembled” after “constructed”.
Subsec. (e)(4)(B)(iii). Pub. L. 109-432, Sec. 116(b)(1)(B),
amended clause (iii) by inserting “or assembly” after “construction.
Subsec. (e)(6)(B)(ii). Pub. L. 109-432, Sec. 116(b)(2)(A),
amended clause (ii) by inserting “or assembled” after “constructed"
and “or assembling” after “construction”.
Subsec. (e)(6)(D). Pub. L. 109-432, Sec. 116(b)(2)(B),
amended subpar. (D) by inserting “or assembled” after “constructed"
and “or assembly” after “construction”.
Subsec. (e)(6)(G). Pub. L. 109-432, Sec. 116(a),
amended subpar. (G) by substituting “2007” for “2005”.
Subsec. (a)(1)(E)-(F). Pub. L. 109-280, Sec. 1206(a)(1),
redesignated subpar. (E) and (F) as subpar. (F) and (G), respectively,
and added subpar. (E).
Subsec. (b)(2). Pub. L. 109-280, Sec. 1206(a)(2),
amended par. (2). Before being amended, par. (2) read as follows:
“(2) Corporations
“In the case of a corporation, the total deductions
under subsection (a) for any taxable year shall not exceed 10 percent
of the taxpayer's taxable income computed without regard to--
“(A) this section,
“(B) part VIII (except section 248),
“(C) section 199,
“(D) any net operating loss carryback to the taxable
year under section 172, and
“(E) any capital loss carryback to the taxable
year under section 1212(a)(1).”
Subsec. (d)(2). Pub. L. 109-280, Sec. 1206(b)(1),
amended par. (2) by substituting “subsection (b)(2)(A)” for “subsection
(b)(2)” each place it appeared.
Subsec. (e)(1)(B)(i). Pub. L. 109-280, Sec. 1215(a)(1),
amended clause (i). Before amendment, it read as follows:
“(i) of tangible personal property, if the use
by the donee is unrelated to the purpose or function constituting
the basis for its exemption under section 501 (or, in the case of
a governmental unit, to any purpose or function described in subsection
(c)),”.
Subsec. (e)(1)(B)(ii)-(iv). Pub. L. 109-280, Sec. 1214(a),
amended subpar. (B) by striking “or” at the end of clause (ii), by
inserting “or” at the end of clause (iii), and by adding clause (iv).
Subsec. (e)(3)(C)(iv). Pub. L. 109-280, Sec. 1202(a),
amended clause (iv) by substituting “2007” for “2005”.
Subsec. (e)(3)(D)(iv). Pub. L. 109-280, Sec. 1204(a),
amended clause (iv) by substituting “2007” for “2005”.
Subsec. (e)(7). Pub. L. 109-280, Sec. 1215(a)(2),
added par. (7).
Subsec. (f)(11)(E). Pub. L. 109-280, Sec. 1219(c)(1),
amended subpar. (E). Before amendment, it read as follows:
“(E) QUALIFIED APPRAISAL-
“For purposes of this paragraph, the term
‘qualified appraisal’ means, with respect to any property, an appraisal
of such property which is treated for purposes of this paragraph
as a qualified appraisal under regulations or other guidance
prescribed by the Secretary.”
Subsec. (f)(13). Pub. L. 109-280, Sec. 1213(c),
added par. (13).
Subsec. (f)(14). Pub. L. 109-280, Sec. 1213(d),
added par. (14).
Subsec. (f)(15). Pub. L. 109-280, Sec. 1214(b),
added par. (15).
Subsec. (f)(16). Pub. L. 109-280, Sec. 1216(a),
added par. (16).
Subsec. (f)(17). Pub. L. 109-280, Sec. 1217(a),
added par. (17).
Subsec. (f)(18). Pub. L. 109-280, Sec. 1234(a),
added par. (18).
Subsec. (h)(4)(B)-(C). Pub. L. 109-280, Sec. 1213(a)(1),
amended par. (4) by redesignating subpar. (B) as subpar. (C) and by
adding subpar. (B).
Subsec. (h)(4)(C). Pub. L. 109-280, Sec. 1213(b),
amended subpar. (C) by striking “any building, structure, or land
area which” in the matter preceding clause (i); by inserting “any
building, structure, or land area which” before “is listed” in clause
(i); and by inserting “any building which” before “is located” in
clause (ii).
Subsec. (o)-(p). Pub. L. 109-280, Sec. 1218(a),
redesignated subsec. (o) as subsec. (p) and added a subsec. (o).
Subsec. (e)(1)(A). Pub. L. 109-222, Sec. 204(b),
amended subpar. (A) by inserting “(determined without regard to section
1221(b)(3))” after “long-term capital gain”.
2005--Subsec. (b)(2)(C)-(E). Pub. L. 109-135, Sec. 403(a)(15),
redesignated subpar. (C) and (D) as subpar. (D) and (E), respectively,
and added a new subpar. (C).
Subsec. (f)(12)(B)(v), (vi). Pub. L. 109-135, Sec. 403(gg),
added clauses (v) and (vi).
Subsec. (e)(3)(C)-(D). Pub. L. 109-73, Sec. 305(a),
redesignated subpar. (C) as subpar. (D) and added subpar. (C).
Subsec. (e)(3)(D)-(E). Pub. L. 109-73, Sec. 306(a),
redesignated subpar. (D), as redesignated by P.L. 109-73, Sec. 305(a),
as subpar. (E) and added subpar. (D).
2004--Subsec. (e)(1)(B)(i)-(iii). Pub. L. 108-357, Sec. 882(a),
amended subpar. (B) by striking “or” at the end of clause (i); by
substituting “or” for the period at the end of clause (ii); and by
adding clause (iii).
Subsec. (f)(10)(A). Pub. L. 108-357, Sec. 413(c)(30),
amended subpar. (A) by striking “556(b)(2)”.
Subsec. (f)(11). Pub. L. 108-357, Sec. 883(a),
amended subsec. (f) by adding par. (11).
Subsec. (f)(11)(A)(ii)(I). Pub. L. 108-357, Sec. 882(d),
amended subclause (I) by inserting “subsection (e)(1)(B)(iii) or"
before “section 1221(a)(1)”.
Subsec. (f)(12). Pub. L. 108-357, Sec. 884(a),
amended subsec. (f) by adding par. (12).
Subsec. (m)-(n). Pub. L. 108-357, Sec. 882(b),
redesignated subsec. (m) as subsec. (n) and added subsec. (m).
Subsec. (n)-(o). Pub. L. 108-357, Sec. 335(a),
redesignated subsec. (n) (as previously redesignated) as subsec. (o)
and added subsec. (n).
Subsec. (e)(6)(G). Pub. L. 108-311, Sec. 306(a),
amended subpar. (G) by substituting “2005” for “2003”. Subsec. (g)(1). Pub. L. 108-311, Sec. 207(15),
amended par. (1) by inserting “(determined without regard to subsections
(b)(1), (b)(2), and (d)(1)(B) thereof)” after “section 152”.
Subsec. (g)(3). Pub. L. 108-311, Sec. 207(16),
amended par. (3) by substituting “subparagraphs (A) through (G) of
section 152(d)(2)” for “paragraphs (1) through (8) of section 152(a)”.
2002--Subsec. (e)(6)(B)(i)(III). Pub. L. 107-147, Sec. 417(7),
amended subclause (III) by substituting “2000),” for “2000,”.
Subsec. (e)(6)(B)(iv). Pub. L. 107-147, Sec. 417(22),
provided that the amendment made to clause (iv) by Pub. L. 106-554, Sec. 165(b)(1),
as if it had struck “in any of the grades K-12”.
2001 - Subsec. (e)(1). Pub. L. 107-16, Sec. 542(e)(2)(B),
amended par. (1) by adding the sentence at the end.
2000 - Subsec. (e)(6). Pub. L. 106-554, Sec. 165(a),
amended par. (6) by substituting “qualified computer contribution"
for “qualified elementary or secondary educational contribution” each
place it appeared.
Subsec. (e)(6). Pub. L. 106-554, Sec. 165(b),
amended the heading by substituting “educational purposes” for “elementary
or secondary school purposes”.
Subsec. (e)(6)(B)(i). Pub. L. 106-554, Sec. 165(a),
amended clause (i) by striking “or” as the end of subclause (I), adding
“or” at the end of subclause (II), and adding subclause (III).
Subsec. (e)(6)(B)(ii). Pub. L. 106-554, Sec. 165(a),
amended clause (ii) by substituting “3 years” for “2 years”.
Subsec. (e)(6)(B)(iv). Pub. L. 106-554, Sec. 165(b),
amended clause (iv) by striking “in any grades of the K-12” after
“educational purposes”.
Subsec. (e)(6)(B)(vi)-(viii). Pub. L. 106-554, Sec. 165(d),
amended clause (vi) by striking “or” at the end, amended clause (vii)
by substituting “, and” for the period at the end, and added clause
(viii).
Subsec. (e)(6)(D)-(G). Pub. L. 106-554, Sec. 165(e),
amended par. (6) by redesignating subpars. (D)-(F) as subpars. (E)-(G),
respectively, and added new subpar. (D).
Subsec. (e)(6)(F). Pub. L. 106-554, Sec. 165(c),
amended subpar. (F) (before redesignation) by substituting “December
31, 2003” for “December 31, 2000”.
1999--Subsec. (e)(3)(A). Pub. L. 106-170, Sec. 532(c)(1)(A),
amended subpar. (A) by substituting “section 1221(a)” for “section
1221”.
Subsec. (e)(4)(B). Pub. L. 106-170, Sec. 532(c)(1)(B),
amended subpar. (B) by substituting “section 1221(a)” for “section
1221”.
Subsec. (f)(10). Pub. L. 106-170, Sec.537(a),
added par. (10).
1998--Subsec. (e)(5)(D). Pub. L. 105-277, Sec. 1004(a)(1),
struck subpar. (D). Prior to being struck, it read as follows:
“(D) Termination
“This paragraph shall not apply
to contributions made--
“(i) after December 31, 1994,
and before July 1, 1996, or
“(ii) after June 30, 1998.
“
Subsec. (e)(6)(B). Pub. L. 105-206, Sec. 6004(e),
amended subpar. (B) by substituting “donee” for “organization or entity"
in clause (iv); and by substituting “donee's” for “entity's” in clauses
(vi) and (vii).
Subsec. (e)(6)(C)(ii). Pub. L. 105-206, Sec. 6004(e)(3),
amended subclause (I) by substituting “a donee” for “an entity”.
Subsec. (e)(6)(F). Pub. L. 105-206, Sec. 6004(e)(4),
amended subpar. (F) by substituting “2000” for “1999”.
1997--Subsec. (e)(5)(D)(ii). Pub. L. 105-34, Sec. 602(a),
substituted “June 30, 1998” for “May 31, 1997”.
Subsec. (e)(6). Pub.
L. 105-34, Sec. 224(a), added par. (6).
Subsec. (h)(5)(B)(ii). Pub. L. 105-34, Sec. 508(d),
amended clause (ii). Prior to amendment it read as follows:
“(ii) Special rule--
With respect to any contribution
of property in which the ownership of the surface estate and mineral
interests were separated before June 13, 1976, and remain so separated,
subparagraph (A) shall be treated as met if the probability of surface
mining occurring on such property is so remote as to be negligible.”
Subsec. (I). Pub.
L. 105-34, Sec. 973(a), amended subsec. (I). Prior
to amendment it read as follows:
“(i) Standard mileage rate for use of passenger
automobile
For purposes of computing the deduction under this
section for use of a passenger automobile the standard mileage rate
shall be 12 cents per mile.”
1996 - Subsec. (e)(1). Pub. L. 104-188, Sec. 1316(b) added
new sentence at the end.
Subsec. (e)(5)(D). Pub. L. 104-188, Sec. 1206(a) amended
generally subpar. (D), which prior to amendment read as follows:
‘(D) Termination
‘This paragraph shall not apply to contributions
made after December 31, 1994.’
1993--Subsec. (f)(8). Pub. L. 103-66, Sec. 13172(a),
amended subsec. (f) by adding par. (8).
Subsec. (9). Pub.
L. 103-66, Sec. 13222(b), amended subsec. (f) by
adding par. (9).
1990--Subsec. (h)(4)(B)(ii). Pub. L. 101-508, Sec. 11813(b)(10),
substituted ‘section 47(c)(3)(B)’ for ‘section 48(g)(3)(B)’.
Subsec. (i). Pub. L. 101-508, Sec. 11801(a)(11),
(c)(5), redesignated subsec. (j) as (i) and struck out former subsec.
(i) which related to rule for nonitemization of deductions, applicable
percentage for individuals, limitation for taxable years beginning
before 1985, and termination.
Subsecs. (j) to (n). Pub. L. 101-508, Sec. 11801(c)(5),
redesignated subsecs. (j) to (n) as (i) to (m), respectively.
1988--Subsecs. (m), (n). Pub. L. 100-647 added subsec. (m)
and redesignated former subsec. (m) as (n).
1987--Subsec. (c)(2)(D). Pub. L. 100-203 inserted ‘(or in
opposition to)’ after ‘on behalf of’.
1986--Subsec. (b)(1)(C)(iv). Pub. L. 99-514, Sec. 1831, substituted
‘this paragraph’ for ‘this subparagraph’.
Subsec. (e)(1)(B). Pub. L. 99-514, Sec. 301(b)(2),
in closing provisions, struck out ‘40 percent ( 28/46 in the case
of a corporation) of’ before ‘the amount of gain’.
Subsec. (e)(4)(B)(i). Pub. L. 99-514, Sec. 231(f),
amended cl. (i) generally. Prior to amendment, cl. (i) read as follows:
‘the contribution is to an educational organization which is described
in subsection (b)(1)(A)(ii) of this section and which is an institution
of higher education (as defined in section 3304(f)),’.
Subsecs. (k) to (m). Pub. L. 99-514, Sec. 142(d),
added subsec. (k) and redesignated former subsecs. (k) and (l) as
(l) and (m), respectively.
1984--Subsec. (a)(3). Pub. L. 98-369, Sec. 174(b)(5)(A),
substituted ‘section 267(b) or 707(b)’ for ‘section 267(b)’.
Subsec. (b)(1)(A)(vii). Pub. L. 98-369, Sec. 301(c)(2)(A),
substituted ‘subparagraph (E)’ for ‘subparagraph (D)’.
Subsec. (b)(1)(B). Pub. L. 98-369, Sec. 301(a)(2),
inserted at end ‘If the aggregate of such contributions exceeds the
limitation of the preceding sentence, such excess shall be treated
(in a manner consistent with the rules of subsection (d)(1)) as a
charitable contribution (to which subparagraph (A) does not apply)
in each of the 5 succeeding taxable years in order of time.’
Subsec. (b)(1)(B)(i). Pub. L. 98-369, Sec. 301(a)(1),
substituted ‘30 percent’ for ‘20 percent’.
Subsec. (b)(1)(C). Pub. L. 98-369, Sec. 301(c)(2)(B),
inserted ‘described in subparagraph (A)’ in subpar. (C) heading, and
in text of cl. (i) substituted ‘In the case of charitable contributions
described in subparagraph (A) of capital gain property to which subsection
(e)(1)(B) does not apply, the total amount of contributions of such
property which may be taken into account under subsection (a) for
any taxable year shall not exceed 30 percent of the taxpayer's contribution
base for such year. For purposes of this subsection, contributions
of capital gain property to which this subparagraph applies shall
be taken into account after all other charitable contributions (other
than charitable contributions to which subparagraph (D) applies)'
for ‘In the case of charitable contributions of capital gain property
to which subsection (e)(1)(B) does not apply, the total amount of
contributions of such property which may be taken into account under
subsection (a) for any taxable year shall not exceed 30 percent of
the taxpayer's contribution base for such year. For purposes of this
subsection, contributions of capital gain property to which this paragraph
applies shall be taken into account after all other charitable contributions'.
Subsec. (b)(1)(D) to (F). Pub. L. 98-369, Sec. 301(c)(1),
added subpar. (D) and redesignated former subpars. (D) and (E) as
(E) and (F), respectively.
Subsec. (e)(1). Pub. L. 98-369, Sec. 492(b)(1)(A),
struck out in provision following subpar. (B) ‘1251(c),’ after ‘1250(a)’.
Subsec. (e)(1)(B)(ii). Pub. L. 98-369, Sec. 301(c)(2)(C),
substituted ‘subsection (b)(1)(E)’ for ‘subsection (b)(1)(D)’.
Subsec. (e)(3)(C). Pub. L. 98-369, Sec. 492(b)(1)(B),
struck out ‘1251,’ after ‘1250,’.
Subsec. (e)(5). Pub.
L. 98-369, Sec. 301(b), added par. (5).
Subsec. (f)(7). Pub. L. 98-369, Sec. 1022(b),
added par. (7).
Subsec. (h)(5)(B). Pub. L. 98-369, Sec. 1035(a),
designated existing provisions as cl. (i), inserted ‘Except as provided
in clause (ii)’, and added cl. (ii).
Subsec. (j). Pub.
L. 98-369, Sec. 1031(a), added subsec. (j). Former
subsec. (j) redesignated (k).
Subsec. (k). Pub.
L. 98-369, Sec. 1031(a), redesignated subsec. (j)
as (k). Former subsec. (k) redesignated (l).
Subsec. (l). Pub. L. 98-369, Sec. 1032(b)(1),
added par. (1) and redesignated former pars. (1) to (8) as (2) to
(9), respectively.
Pub. L.
98-369, Sec. 1031(a), redesignated subsec. (k) as
(l).
1983--Subsec. (h)(4)(B)(ii). Pub. L. 97-448 substituted ‘section
48(g)(3)(B)’ for ‘section 191(d)(2)’.
Subsec. (k)(8). Pub.
L. 97-473 added par. (8).
1982--Subsec. (c)(2). Pub. L. 97-248 inserted provision
that rules similar to the rules of section 501(j) of this title shall
apply for purposes of this paragraph.
Subsec. (e)(3)(A). Pub. L. 97-354, Sec. 5(a)(21)(A),
substituted ‘an S corporation’ for ‘an electing small business corporation
within the meaning of section 1371(b)’.
Subsec. (e)(4)(D)(i). Pub. L. 97-354, Sec. 5(a)(21)(B),
substituted ‘an S corporation’ for ‘an electing small business corporation
(as defined in section 1371(b))’.
Subsec. (k)(7). Pub.
L. 97-258 substituted ‘section 4043 of title 18,
United States Code’ for ‘section 2 of the Act of May 15, 1952, as
amended by the Act of July 9, 1952 (31
U.S.C. 725s-4)'.
1981--Subsec. (b)(2). Pub. L. 97-34, Sec. 263(a),
increased to 10 from 5 percent deduction allowable to a corporation
in any taxable year for charitable contributions.
Subsec. (e)(4). Pub.
L. 97-34, Sec. 222(a), added par. (4).
Subsec. (i). Pub.
L. 97-34, Sec. 121(a), added subsec. (i). Former
subsec. (i) redesignated (j).
Subsecs. (j), (k). Pub. L. 97-34, Sec. 121(a),
redesignated former subsecs. (i) and (j) as (j) and (k), respectively.
1980 - Subsec. (f)(3). Pub. L. 96-541, Sec. 6(a), reenacted
subpar. (B), cls. (i) and (ii), substituted cl. (B)(iii) relating
to qualified conservation contribution for prior cl. (B)(iii) relating
to contribution of a lease on, option to purchase, or easement with
respect to real property granted in perpetuity to a subsec. (b)(1)(A)
organization exclusively for conservation purposes, deleted cl. (B)(iv)
respecting contribution of a remainder interest in real property granted
to a subsec. (b)(1)(A) organization exclusively for conservation purposes,
and deleted subpar. (C) definition of ‘conservation purposes’, now
covered in an expanded subsec. (h)(4)(A).
Subsecs. (h), (i). Pub. L. 96-541, Sec. 6(b), added
subsec. (h) andredesignated former subsec. (h) as (i). Former subsec.
(i) redesignated (j).
Subsec. (i)(6). Pub.
L. 96-465, among other changes, inserted references
to Director of the International Communication Agency and the Director
of the United States International Development Cooperation Agency,
and substituted reference to section 25 of the State Department Basic
Authorities Act of 1956 for reference to section 1021(e) of the Foreign
Service Act of 1946.
Subsec. (j). Pub.
L. 96-541, Sec. 6(b), redesignated former subsec.
(i) as (j).
1978--Subsec. (e)(1)(B). Pub. L. 95-600 substituted ‘40 percent’
for ‘50 percent’ and ‘ 28/46’ for ‘62 1/2 percent’.
1977--Subsec. (f)(3)(B)(iii). Pub. L. 95-30 substituted ‘real property
granted in perpetuity to an organization’ for ‘real property of not
less than 30 years’ duration granted to an organization'.
1976--Subsec. (a). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out ‘or his delegate’ after ‘Secretary’.
Subsec. (b)(1)(A)(vii). Pub. L. 94-455, Sec. 1901(a)(28)(A)(iii),
substituted ‘subparagraph (D)’ for ‘subparagraph (E)’ after ‘described
in’.
Subsec. (b)(1)(B)(ii). Pub. L. 94-455, Sec. 1901(a)(28)(A)(iv),
substituted ‘subparagraph (C)’ for ‘subparagraph (D)’ after ‘without
regard to’.
Subsec. (b)(1)(C). Pub. L. 94-455, Sec. 1901(a)(28)(A)(ii),
struck out subpar. (C) which related to unlimited deductions for certain
individuals, redesignated subpar. (D) as (C) and, as so redesignated,
Sec. 1906(b)(13)(A), struck out ‘or his delegate’ after ‘Secretary’
in cl. (iii).
Subsec. (b)(1)(D) to (F). Pub. L. 94-455, Sec. 1901(a)(28)(A)(ii),
redesignated subpars. (D) to (F) as (C) to (E), respectively.
Subsec. (b)(2). Pub. L. 95-455, Sec. 1052(c)(2),
struck out subpar. (D) which related to a special deduction for Western
Hemisphere trade corporations, and redesignated subpar. (E) as (D).
Subsec. (c). Pub. L. 94-455, Sec. 1901(a)(28)(A)(v),
substituted ‘subsection (g)’ for ‘subsection (h)’ after ‘amount treated
under’.
Subsec. (c)(2)(B). Pub. L. 94-455, Sec. 1313(b)(1),
inserted ‘or to foster national or international amateur sports competition
(but only if no part of its activities involves the provision of athletic
facilities or equipment)’ after ‘or educational purposes’.
Subsec. (c)(2)(D). Pub. L. 94-445, Sec. 1307(d)(1)(B)(i),
substituted ‘which is not disqualified for tax exemption under section
501(c)(3) by reason of attempting to influence legislation’ for ‘no
substantial part of the activities of which is carrying on propaganda,
or otherwise attempting to influence legislation’ after ‘(D)’.
Subsec. (d)(1)(A). Pub. L. 94-455, Sec. 1901(a)(28)(B),
struck out ‘(30 percent in the case of a contribution year beginning
before January 1, 1970)’ after ‘exceeds 50 percent’.
Subsec. (e)(1). Pub. L. 94-455, Sec. 205(c)(1)(A),
substituted ‘1252(a), or 1254(a)’ for ‘or 1252(a)’ after ‘1251(c)’.
Subsec. (e)(1)(B)(ii). Pub. L. 94-455, Sec. 1901(a)(28)(A)(vi),
substituted ‘subsection (b)(1)(D)’ for ‘subsection (b)(1)(E)’ after
‘foundation described in’.
Subsec. (e)(2). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out ‘or his delegate’ after ‘Secretary’.
Subsec. (e)(3). Pub. L. 94-455, Sec. 2135(a),
added par. (3).
Subsec. (f)(2). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out ‘or his delegate’ after ‘Secretary’.
Subsec. (f)(3). Pub. L. 94-455, Sec. 2124(e)(1),
added subpars. (B)(iii), (iv), and (C).
Subsec. (f)(4). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out ‘or his delegate’ after ‘Secretary’.
Subsec. (f)(6). Pub. L. 94-455, Sec. 1307(c),
1901(a)(28)(A)(i), added par. (6). Former par. (6), which related
to the partial reduction of unlimited deduction and definitions for
transitional income and deduction percentages, was struck out. Section
1901(a)(28)(A)(i) of Pub. L. 94-455 struck
out par. (6) a second time.
Subsec. (g). Pub. L. 94-455, Sec. 1901(a)(28)(A)(i),
struck out subsec. (g) which related to application of unlimited charitable
contribution deductions allowed for taxable years beginning before
January 1, 1975, and redesignated subsecs. (h), (i), and (j) as (g),
(h), and (i), respectively. Section 1901(a)(28)(A)(i) also struck
out former subsec. (f)(6) but this direction was not executed as such
former subsec. (f)(6) had previously been stricken by section 1307(c)
of Pub. L. 94-455.
Subsec. (g)(1)(B). Pub. L. 94-455, Sec. 1901(b)(8)(A),
substituted ‘educational organization described in section 170(b)(1)(A)(ii)’
for ‘educational institution (as defined in section 151(e)(4)’ after
‘grade at an’.
Subsec. (h). Pub. L. 94-455, Sec. 1901(a)(28)(A)(i),
(C), redesignated subsec. (i) as (h), and struck out ‘64 Stat. 996‘ after ‘Act of 1950’. Former
subsec. (h) redesignated (g).
Subsec. (i). Pub. L. 94-455, Sec. 1901(a)(28)(A)(i),
(D), redesignated subsec. (j) as (i) and substituted ‘6973 of title
10, United States Code’ for ‘3 of the Act of March 31, 1944 (58 Stat. 135; 34 U.S.C. 1115b)' after ‘see
section’ in par. (5); struck out par. (6) relating to gifts to library
of Post Office Department; struck out ‘60
Stat. 924‘ after ‘1946’ in par. (7); substituted ‘as amended
by the Act of July 9, 1952 (3 U.S.C.
725s-4)' for ‘(66 Stat.
73, as amended by Act of July 9, 1952, 66 Stat. 479, 31 U.S.C. 725s-4)' after ‘May
15, 1952’ in par. (8); and redesignated pars. (7) and (8) as pars.
(6) and (7), respectively. Former subsec. (i) redesignated (h).
Subsec. (j). Pub. L. 94-455, Sec. 1901(a)(28)(A)(i),
redesignated subsec. (j) as (i).
1969 - Subsec. (a)(3). Pub. L. 91-172, Sec. 201(a)(1)(B),
added par. (3).
Subsec. (b). Pub. L. 91-172, Sec. 201(a)(1)(B),
(h)(1), increased the general limitation on the charitable contributions
deduction for individual taxpayers from 30 percent of adjusted gross
income to 50 percent of his contribution base and provided that where
a taxpayer makes a contribution to a public charity of property which
has appreciated in value the taxpayer could deduct such contributions
of property under the 50 percent limitation if he elects to take the
unrealized appreciation in value into account for the tax purposes,
the unlimited charitable deduction is phased out over a 5-year period
and contributions to a private operating foundation and contributions
to a private nonoperating foundation distributing such contributions
to public charities or private operating foundations within two and
half months following the year of receipt are also subjected to 50
percent limitation (30 percent in the case of gifts of appreciated
property), and, in par. (1)(C), inserted provisions relating to the
determination of the amount of charitable contributions and taxes
paid by a married individual who previously filed a joint return with
a former deceased spouse.
Subsec. (c). Pub. L. 91-172, Sec. 201(a)(1)(B),
struck out references to ‘Territory’ in pars. (1) and (2)(A), and
inserted reference to participation in or intervention in any political
campaign on behalf of any candidate for public office in par. (2)(D).
Subsec. (d). Pub. L. 91-172, Sec. 201(a)(1)(B),
added subsec. (d) consisting of provisions substantially transferred
from subsec. (b) in the general amendment of subsec. (b) by Pub. L. 91-172. Former subsec. (d)
redesignated (b).
Subsec. (e). Pub. L. 91-172, Sec. 201(a)(1)(B),
substituted provisions covering certain contributions of ordinary
income and capital gain property for provisions setting out a special
rule for charitable contributions.
Subsec. (f). Pub. L. 91-172, Sec. 201(a)(1)(B),
substituted provisions for the disallowance of the deduction in specified
cases for provision covering future interests in tangible personal
property.
Subsec. (g). Pub. L. 91-172, Sec. 201(a)(2)(A),
substituted ‘subsection (d)(1)’ for ‘subsection (b)(5)’ in two places
in par. (1) and struck out par. (2)(B) covering contributions to organizations
substantially more than half of the assets and the total income were
devoted to charitable purposes.
Subsec. (h). Pub. L. 91-172, Sec. 201(a)(1)(A),
redesignated subsec. (d) as (h). Former subsec. (h) redesignated (i).
Subsec. (i). Pub.
L. 91-172, Sec. 101(j)(2), 201(a)(1)(A), redesignated
former subsec. (h) as (i), struck out par. (1) covering disallowance
of deductions for gifts to charitable organizations engaging in prohibited
transactions, and removed the par. (2) designation from the provisions
covering disallowance of deductions for use of communist controlled
organizations. Former subsec. (i) redesignated (j).
Subsec. (j). Pub. L. 91-172, Sec. 201(a)(1)(A),
redesignated former subsec. (i) as (j).
1966--Subsec. (e). Pub. L. 89-570 inserted reference
to section 617(d)(1).
1964--Subsec. (b)(1)(A)(v),
(vi), (2), (5). Pub. L. 88-272,
Sec. 209 (a), (c)(1), (d)(1), added cls. (v) and
(vi) in par. (1)(A), and par. (5), and in par. (2), extended the 2-year
carryforward of unused charitable contributions to 5 years and changed
the method of computation by including the aggregate of the excess
contributions made in taxable years before the contribution year,
in cl. (i), and references to third, fourth or fifth succeeding years
in cl. (ii).
Subsec. (e). Pub.
L. 88-272, Sec. 231(b)(1), substituted ‘certain property’
for ‘section 1245 property’ in heading, and inserted reference to
section 1250(a) in text.
Subsec. (f). Pub.
L. 88-272, Sec. 209(e), added subsec. (f). Former
subsec. (f) redesignated (h).
Subsec. (g). Pub.
L. 88-272, Sec. 209(b), added subsec. (g). Former
subsec. (g) redesignated (i).
Subsecs. (h), (i). Pub. L. 88-272, Sec. 209(e),
redesignated former subsecs. (f) and (g) as (h) and (i), respectively.
1962--Subsec. (b)(1)(A)(iv). Pub. L. 87-858, Sec. 2(a), added
cl. (iv).
Subsec. (b)(1)(B). Pub. L. 87-858, Sec. 2(b), substituted
‘any charitable contributions described in subparagraph (A)’ for ‘any
charitable contributions to the organizations described in clauses
(i), (ii), and (iii)’.
Subsecs. (e) to (g). Pub.
L. 87-834 added subsec. (e) and redesignated former
subsecs. (e) and (f) as (f) and (g), respectively.
1960--Subsec. (c). Pub. L. 86-779, Sec. 7(a)(1),
inserted sentence additionally defining ‘charitable contribution’
for purposes of the section.
Subsecs. (d) to (f). Pub. L. 86-779, Sec. 7(a)(2),
added subsec. (d) and redesignated former subsecs. (d) and (e) as
(e) and (f), respectively.
1958--Subsec. (b)(1)(C). Pub. L. 85-866, Sec. 10(a),
inserted sentence allowing substitution, in lieu of amount of tax
paid during year, amount of tax paid in respect of such year, provided
amount so included in the year in respect of which payment was made
be not included in any other year.
Subsec. (b)(3). Pub.
L. 85-866, Sec. 11, added par. (3).
Subsec. (b)(4). Pub.
L. 85-866, Sec. 12, added par. (4).
1956--Subsec. (b)(1)(A)(iii).
Act Aug. 7, 1956, Sec. 1, provided for the allowance, as deductions,
of contributions to medical research organizations.
EFFECTIVE DATE OF 2022
AMENDMENTS
Amendments by Pub. L. 117-328, Div. T, Sec. 605(a)(1),
(b), shall apply, generally, to contributions made after the date
of the enactment of this Act [Enacted: Dec. 29, 2022].
Pub.
L. 117-328, Div. T, Sec. 605(c), provided:
“(2) No Inference. –
“No inference is intended
as to the appropriate treatment of contributions made in taxable years
ending on or before the date specified in paragraph (1), or as to
any contribution for which a deduction is not disallowed by reason
of section 170(h)(7) of the Internal Revenue Code of 1986, as added
by this section.”
Pub.
L. 117-328, Div. T, Sec. 605(d), provided:
“(d) SAFE HARBORS AND
OPPORTUNITY FOR DONOR TO CORRECT CERTAIN DEED ERRORS.—
(1) IN GENERAL.—The
Secretary of the Treasury (or such Secretary's delegate) shall,
within 120 days after the date of the enactment of this Act, publish
safe harbor deed language for extinguishment clauses and boundary
line adjustments.
“(2) OPPORTUNITY TO
CORRECT.—
“(A) IN GENERAL.—During
the 90-day period beginning on the date of publication of the safe
harbor deed language under paragraph (1), a donor may amend an easement
deed to substitute the safe harbor language for the corresponding
language in the original deed if—
“(i) the amended deed
is signed by the donor and donee and recorded within such 90-day period,
and
“(ii) such amendment
is treated as effective as of the date of the recording of the original
easement deed.
“(B) EXCEPTIONS.—Subparagraph
(A) shall not apply to an easement deed relating to any contribution—
“(i) which—
“(I) is part of a reportable
transaction (as defined in section 6707A(c)(1) of the Internal Revenue
Code of 1986), or
“(II) is described
in Internal Revenue Service Notice 2017–10,
“(ii) which by reason
of section 170(h)(7) of such Code, as added by this section, is not
treated as a qualified conservation contribution,
“(iii) if a deduction
for such contribution under section 170 of such Code has been disallowed
by the Secretary of the Treasury (or such Secretary's delegate),
and the donor is contesting such disallowance in a case which is docketed
in a Federal court on a date before the date the amended deed is recorded
by the donor, or
“(iv) if a claimed
deduction for such contribution under section 170 of such Code resulted
in an underpayment to which a penalty under section 6662 or 6663 of
such Code applies and—
‘(I) such penalty has
been finally determined administratively, or
“(II) if such penalty
is challenged in court, the judicial proceeding with respect to such
penalty has been concluded by a decision or judgment which has become
final.”
Pub.
L. 117-328, Div. T, Sec. 605(a)(3) further provided: “EXTENSION
OF STATUTE OF LIMITATIONS FOR LISTED TRANSACTIONS.—Any contribution
with respect to which any deduction was disallowed by reason of section
170(h)(7) of the Internal Revenue Code of 1986 (as added by this subsection)
shall be treated for purposes of sections 6501(c)(10) and 6235(c)(6)
of such Code as a transaction specifically identified by the Secretary
as a tax avoidance transaction for purposes of section 6011 of such
Code.”
EFFECTIVE DATE OF 2020
AMENDMENTS
Amendments by Pub. L. 116-260, Div. EE, Sec. 212(a),
effective for taxable years beginning after December 31, 2020.
EFFECTIVE
DATE OF 2018 AMENDMENTS
Amendment by Pub. L. 115-232, Sec. 809(h)(1), effective
February 1, 2019.
Amendments
by Pub. L. 115-141, Div. U, Sec.
401(a)(52) and (b)(14), effective March 23, 2018.
Sec. 401(e) of Pub. L. 115-141, Div. U, provided the following
savings provision:
“(e) General Savings
Provision With Respect To Deadwood Provisions.—If—
“(1) any provision
amended or repealed by the amendments made by subsection (b) or (d)
applied to—
“(A) any transaction
occurring before the date of the enactment of this Act,
“(B) any property
acquired before such date of enactment, or
“(C) any item of income,
loss, deduction, or credit taken into account before such date of
enactment, and
“(2) the treatment
of such transaction, property, or item under such provision would
(without regard to the amendments or repeals made by such subsection)
affect the liability for tax for periods ending after such date of
enactment,
“nothing in the amendments
or repeals made by this section shall be construed to affect the treatment
of such transaction, property, or item for purposes of determining
liability for tax for periods ending after such date of enactment.”
EFFECTIVE
DATE OF 2017 AMENDMENTS
Amendment by Pub.
L. 115-97, Sec. 11011(d)(5) effective for taxable years
beginning after December 31, 2017.
Amendment
by Pub. L. 115-97, Secs. 11023(a),
effective for contributions in taxable years beginning after December
31, 2017.
Amendment
by Pub. L. 115-97, Sec. 13305(b)(2),
effective for taxable years beginning after December 31, 2017. Pub. L. 115-141, Div .T, Sec. 101(c), added
the following transition rule:
“(2) TRANSITION RULE
FOR QUALIFIED PAYMENTS OF PATRONS OF COOPERATIVES.—
‘‘(A) IN GENERAL.—The
amendments made by this section shall not apply to a qualified payment
received by a taxpayer from a specified agricultural or horticultural
cooperative in a taxable year of the taxpayer beginning after December
31, 2017, which is attributable to qualified production activities
income with respect to which a deduction is allowable to the cooperative
under section 199 of the Internal Revenue
Code of 1986 (as in effect before the amendments made by
this section) for a taxable year of the cooperative beginning before
January 1, 2018. Any term used in this subparagraph which is also
used in section 199 of such Code (as so in effect) shall have the
same meaning as when used in such section.
‘‘(B) COORDINATION
WITH SECTION 199A.—No deduction shall be allowed under section
199A of such Code for any qualified payment to which subparagraph
(A) applies.’’
Amendments
by Pub. L. 115-97, Sec. 13704(a),
effective for contributions in taxable years beginning after December
31, 2017.
Amendment
by Pub. L. 115-97, Sec. 13705(a),
effective for contributions made in taxable years beginning after
December 31, 2016.
EFFECTIVE
DATE OF 2015 AMENDMENTS
Amendments
by Pub. L. 114-113, Div. Q, Sec.
111(a), effective for contributions made in taxable years beginning
after December 31, 2014.
Amendments by Pub. L.
114-113, Div. Q, Sec. 111(b), effective for contributions
made in taxable years beginning after December 31, 2015.
Amendment by Pub. L.
114-113, Div. Q, Sec. 113(a), effective for contributions
made after December 31, 2014.
Amendments by Pub. L.
114-113, Div. Q, Sec. 113(b), effective for taxable years
beginning after December 31, 2015.
Amendments by Pub. L.
114-113, Div. Q, Sec. 331(a), effective for contributions
made on or after the date of the enactment of this Act [Enacted: Dec.
18, 2015].
Amendment by Pub.
L. 114-41, Sec. 2006(a)(2)(A), effective for returns for
taxable years beginning after December 31, 2015. Section 2006(a)(3)(B),
provided the following special rule:
“(B) SPECIAL RULE FOR C CORPORATIONS WITH
FISCAL YEARS ENDING ON JUNE 30.—In the case of any C corporation
with a taxable year ending on June 30, the amendments made by this
subsection shall apply to returns for taxable years beginning after
December 31, 2025.”
EFFECTIVE
DATE OF 2014 AMENDMENTS
Amendments
by Pub. L. 113-295,
Div. A, Sec. 106, effective for contributions made in taxable years
beginning after December 31, 2013.
Amendment
by Pub. L. 113-295,
Div. A, Sec. 126(a), effective for contributions made after December
31, 2013.
Amendments by Pub.
L. 113-295, Div. A, Sec. 221(a)(28), effective on
the date of the enactment of this Act [Enacted: Dec. 19, 2014].
Section
221(b)(2) of Pub. L. 113-295,
Div. A, provided the following Savings Provision:
“(2)
SAVINGS PROVISION.—If—
“(A)
any provision amended or repealed by the amendments made by this section
applied to—
“(i)
any transaction occurring before the date of the enactment of this
Act [Enacted: Dec. 19, 2014],
“(ii)
any property acquired before such date of enactment, or
“(iii)
any item of income, loss, deduction, or credit taken into account
before such date of enactment, and
“(B)
the treatment of such transaction, property, or item under such provision
would (without regard to the amendments or repeals made by this section)
affect the liability for tax for periods ending after date of enactment,
nothing in the amendments or repeals made by this section shall be
construed to affect the treatment of such transaction, property, or
item for purposes of determining liability for tax for periods ending
after such date of enactment.”
EFFECTIVE
DATE OF 2013 AMENDMENTS
Amendments
by Sec. 206 of Pub. L. 112-240 effective
for contributions made in taxable years beginning after December 31,
2011.
Amendment
by Sec. 314(a) of Pub. L. 112-240 effective
for contributions made after December 31, 2011.
EFFECTIVE
DATE OF 2010 AMENDMENTS
Amendments
by Sec. 723 of Pub. L. 111-312 effective
for contributions made in taxable years beginning after December 31,
2009.
Amendment
by Sec. 740(a) of Pub. L. 111-312 effective
for contributions made after December 31, 2009.
Amendment
by Sec. 741(a) of Pub. L. 111-312 effective
for contributions made after December 31, 2009.
Amendment
by Sec. 742(a) of Pub. L. 111-312 effective
for contributions made in taxable years beginning after December 31,
2009.
Amendment
by Sec. 301(a) of Pub. L. 111-312 effective
for estates of decedents dying, and transfers made, after December
31, 2009. Section 304 of Pub. L. 111-312 provided
the following sunset provision:
“SEC. 304. APPLICATION OF EGTRRA SUNSET TO
THIS TITLE. Section 901 of the Economic Growth and Tax Relief Reconciliation
Act of 2001 shall apply to the amendments made by this section.”
Note that Pub. L. 112-240,
Sec. 101(a)(1), struck Title IX of Pub. L. 107-16, effective for taxable,
plan, or limitation years beginning after Dec. 31, 2012, and estates
of decedents dying, gifts made, or generation skipping transfers after
Dec. 31, 2012.
TEMPORARY
MODIFICATION OF LIMITATIONS ON CHARITABLE CONTRIBUTIONS
Section
2205 of Pub. L. 116-136, as amended
by Pub. L. 116-260, Div. EE, Sec.
213, provided:
“SEC. 2205. TEMPORARY MODIFICATION OF LIMITATIONS
ON CHARITABLE CONTRIBUTIONS.
“(a) TEMPORARY SUSPENSION OF LIMITATIONS
ON CERTAIN CASH CONTRIBUTIONS.—
“(1) IN GENERAL.—Except as otherwise
provided in paragraph (2), qualified contributions shall be disregarded
in applying subsections (b) and (d) of section
170 of the Internal Revenue Code of 1986.
“(2) TREATMENT OF EXCESS CONTRIBUTIONS.—For
purposes of section 170 of the Internal
Revenue Code of 1986—
“(A) INDIVIDUALS.—In the case of an
individual—
“(i) LIMITATION.—Any qualified contribution
shall be allowed as a deduction only to the extent that the aggregate
of such contributions does not exceed the excess of the taxpayer's
contribution base (as defined in subparagraph (H) of section 170(b)(1)
of such Code) over the amount of all other charitable contributions
allowed under section 170(b)(1) of such Code.
“(ii) CARRYOVER.—If the aggregate amount
of qualified contributions made in the contribution year (within the
meaning of section 170(d)(1) of such Code) exceeds the limitation
of clause (i), such excess shall be added to the excess described
in section 170(b)(1)(G)(ii).
“(B) CORPORATIONS.—In the case of a
corporation—
“(i) LIMITATION.—Any qualified contribution
shall be allowed as a deduction only to the extent that the aggregate
of such contributions does not exceed the excess of 25 percent of
the taxpayer's taxable income (as determined under paragraph
(2) of section 170(b) of such Code) over the amount of all other charitable
contributions allowed under such paragraph.
“(ii) CARRYOVER.—If the aggregate amount
of qualified contributions made in the contribution year (within the
meaning of section 170(d)(2) of such Code) exceeds the limitation
of clause (i), such excess shall be appropriately taken into account
under section 170(d)(2) subject to the limitations thereof.
“(3) QUALIFIED CONTRIBUTIONS.—
“(A) IN GENERAL.—For purposes of this
subsection, the term ‘‘qualified contribution’’
means any charitable contribution (as defined in section 170(c) of the Internal Revenue Code of
1986) if—
“(i) such contribution is paid in cash during
calendar year 2020 or 2021 to an organization described in section
170(b)(1)(A) of such Code, and
“(ii) the taxpayer has elected the application
of this section with respect to such contribution.
“(B) EXCEPTION.—Such term shall not
include a contribution by a donor if the contribution is—
“(i) to an organization described in section 509(a)(3) of the Internal Revenue Code of
1986, or
“(ii) for the establishment of a new, or
maintenance of an existing, donor advised fund (as defined in section
4966(d)(2) of such Code).
“(C) APPLICATION OF ELECTION TO PARTNERSHIPS
AND S CORPORATIONS.—In the case of a partnership or S corporation,
the election under subparagraph (A)(ii) shall be made separately by
each partner or shareholder.
“(b) INCREASE IN LIMITS ON CONTRIBUTIONS
OF FOOD INVENTORY.—In the case of any charitable contribution
of food during 2020 or 2021 to which section
170(e)(3)(C) of the Internal Revenue Code of 1986 applies,
subclauses (I) and (II) of clause (ii) thereof shall each be applied
by substituting ‘‘25 percent’’ for ‘‘15
percent.’’
“(c) EFFECTIVE DATE.—This section shall
apply to taxable years ending after December 31, 2019.”
REINSTATEMENT
OF ESTATE TAX; REPEAL OF CARRYOVER BASIS
Section
301 of Pub. L. 111-312 provided:
“(a)
IN GENERAL.—Each provision of law amended by subtitle A or E
of title V of the Economic Growth and Tax Relief Reconciliation Act
of 2001 is amended to read as such provision would read if such subtitle
had never been enacted.
“(b)
CONFORMING AMENDMENT.—On and after January 1, 2011, paragraph
(1) of section 2505(a) of the
Internal Revenue Code of 1986 is amended to read
as such paragraph would read if section 521(b)(2) of the Economic
Growth and Tax Relief Reconciliation Act of 2001 had never been enacted.
“(c)
SPECIAL ELECTION WITH RESPECT TO ESTATES OF DECEDENTS DYING IN 2010.—Notwithstanding
subsection (a), in the case of an estate of a decedent dying after
December 31, 2009, and before January 1, 2011, the executor (within
the meaning of section 2203 of the
Internal Revenue Code of 1986) may elect to apply
such Code as though the amendments made by subsection (a) do not apply
with respect to chapter 11 of such Code and with respect to property
acquired or passing from such decedent (within the meaning of section
1014(b) of such Code). Such election shall be made at such time and
in such manner as the Secretary of the Treasury or the Secretary's
delegate shall provide. Such an election once made shall be revocable
only with the consent of the Secretary of the Treasury or the Secretary's
delegate. For purposes of section 2652(a)(1) of such Code, the determination
of whether any property is subject to the tax imposed by such chapter
11 shall be made without regard to any election made under this subsection.
“(d)
EXTENSION OF TIME FOR PERFORMING CERTAIN ACTS.—
“
(1) ESTATE TAX.—In the case of the estate of a decedent dying
after December 31, 2009, and before the date of the enactment of this
Act, the due date for—
“(A)
filing any return under section
6018 of the Internal Revenue Codeof 1986 (including
any election required to be made on such a return) as such section
is in effect after the date of the enactment of this Act without regard
to any election under subsection (c),
“(B)
making any payment of tax under chapter 11 of such Code, and
“(C)
making any disclaimer described in section 2518(b) of such Code of
an interest in property passing by reason of the death of such decedent,
shall not be earlier than the date which is 9 months after the date
of the enactment of this Act.
“(2)
GENERATION-SKIPPING TAX.—In the case of any generation-skipping
transfer made after December 31, 2009, and before the date of the
enactment of this Act, the due date for filing any return under section 2662 of the Internal Revenue Code of
1986 (including any election required to be made on such a return)
shall not be earlier than the date which is 9 months after the date
of the enactment of this Act.
“(e)
EFFECTIVE DATE.—Except as otherwise provided in this section,
the amendments made by this section shall apply to estates of decedents
dying, and transfers made, after December 31, 2009.”
EFFECTIVE DATE OF 2008 AMENDMENTS
Amendment by Div. C, Sec. 321(a) of Pub. L. 110-343 effective for contributions
made during taxable years beginning after December 31, 2007.
Amendment by Div. C, Sec. 323(a)(1) of Pub. L. 110-343 effective for contributions
made after December 31, 2007.
Amendment by Div. C, Sec. 323(b)(1) of Pub. L. 110-343 effective for taxable
years ending after the date of the enactment of this Act [Enacted:
Oct. 3, 2008].
Amendments by Div. C, Sec. 324 of Pub. L. 110-343 effective for contributions
made after December 31, 2007.
Amendments by Sec. 15302(a) of Pub. L. 110-246 effective for contributions
made in taxable years beginning after December 31, 2007.
EFFECTIVE
DATE OF 2007 AMENDMENTS
Amendments
by Sec. 11(a) of Pub. L. 110-172 effective
on the date of the enactment of this Act [Dec. 29, 2007].
Amendment by Sec. 3(c) of Pub. L. 110-172 effective as if
included in the provision of the Pension Protection Act of 2006 [Pub. L. 109-432, Sec. 1215]
to which it relates.
EFFECTIVE
DATE OF 2006 AMENDMENTS
Amendment
by Sec. 116(a)(1) of Pub. L. 109-432 effective
for contributions made in taxable years beginning after December 31,
2005.
Amendments by Sec. 116(b) of Pub. L. 109-432 effective for taxable
years beginning after December 31, 2005.
Amendment by Sec. 1202(a) of Pub. L. 109-280 effective for contributions
made after December 31, 2005.
Amendment by Sec. 1204(a) of Pub. L. 109-280 effective for contributions
made after December 31, 2005.
Amendments by Sec. 1206 of Pub. L. 109-280 effective for contributions
made in taxable years beginning after December 31, 2005.
Amendments by Sec. 1213(a) of Pub. L. 109-280 effective for contributions
made after July 25, 2006.
Amendment by Sec. 1213(c) of Pub. L. 109-280 effective for contributions
made 180 days after the date of the enactment of this Act [Enacted:
Aug. 17, 2006].
Amendments by Sec. 1213(b) and (d) of Pub. L. 109-280 effective for contributions
made after the date of the enactment of this Act [Enacted: Aug. 17,
2006].
Amendments by Sec. 1214 of Pub. L. 109-280 effective for contributions
made after July 25, 2006.
Amendments by Sec. 1215(a) of Pub. L. 109-280 effective for contributions
after September 1, 2006.
Amendment by Sec. 1216 of Pub. L. 109-280 effective for contributions
made after the date of the enactment of this Act [Enacted: Aug. 17,
2006].
Amendment by Sec. 1217 of Pub. L. 109-280 effective for contributions
made in taxable years beginning after the date of the enactment of
this Act [Enacted: Aug. 17, 2006].
Amendments by Sec. 1218 of Pub. L. 109-280 effective for contributions,
bequests, and gifts made after the date of the enactment of this Act
[Enacted: Aug. 17, 2006].
Amendments by Sec. 1219 of Pub. L. 109-280 effective for appraisals
prepared with respect to returns or submissions filed after the date
of the enactment of this Act [Enacted: Aug. 17, 2006].
Amendment by Sec. 1234 of Pub. L. 109-280 effective for contributions
made after the date which is 180 days after the date of the enactment
of this Act [Enacted: Aug. 17, 2006].
Amendment by Sec. 204(b) of Pub. L. 109-222 effective for sales
and exchanges in taxable years beginning after the date of the enactment
of this Act [Enacted: May 17, 2006].
EFFECTIVE DATE OF 2005 AMENDMENTS
Amendments by Sec. 403(a)(16) of Pub. L. 109-135 effective as if
included in the provisions of the American Jobs Creation Act of 2004
[Pub. L. 108-357, Sec. 102]
to which they relate.
Amendments by Sec. 403(gg) of Pub. L. 109-135 effective as if
included in the provisions of the American Jobs Creation Act of 2004
[Pub. L. 108-357, Sec. 884]
to which they relate.
Amendments by Sec. 305(a) of Pub. L. 109-73 effective for contributions
made on or after August 28, 2005, in taxable years ending after such
date.
Amendments by Sec. 306(a) of Pub. L. 109-73 effective for contributions
made on or after August 28, 2005, in taxable years ending after such
date.
EFFECTIVE DATE OF 2004 AMENDMENTS
Amendments by Sec. 335(a) of Pub. L. 108-357 effective for contributions
made after December 31, 2004.
Amendment by Sec. 413(c)(2) of Pub. L. 108-357 effective for taxable
years of foreign corporations beginning after December 31, 2004, and
to taxable years of United States shareholders with or within such
taxable years of foreign corporations end.
Amendments by Sec. 882 of Pub. L. 108-357 effective for contributions
made after June 3, 2004.
Amendments by Sec. 883 of Pub. L. 108-357 effective for contributions
made after June 3, 2004.
Amendments by Sec. 884 of Pub. L. 108-357 effective for contributions
made after December 31, 2004.
Amendments by Sec. 207 of Pub. L. 108-311 effective for taxable
years beginning after December 31, 2004.
Amendment by Sec. 306(a) of Pub. L. 108-311 effective for contributions
made in taxable years beginning after December 31, 2003.
EFFECTIVE DATE OF 2002 AMENDMENTS
Amendments by Sec. 417 of Pub. L. 107-147 effective on the
date of the enactment of this Act [enacted: Mar. 9, 2002].
EFFECTIVE DATE OF 2001 AMENDMENTS
Amendment by Sec. 542(e)(2)(B) of Pub. L. 107-16 effective for estates
of decedents dying after December 31, 2009.
Section 901 (Sunset of Provisions of Act) of Pub. L. 107-16, as amended by Pub. L. 107-358 and Pub. L. 111-312, Sec. 101(a),
and struck by Pub. L. 112-240,
Sec. 101(a)(1) (effective for taxable, plan, or limitation
years beginning after Dec. 31, 2012, and estates of decedents dying,
gifts made, or generation skipping transfers after Dec. 31, 2012),
provided that:
“(a) IN GENERAL.--All provisions of, and amendments
made by, this Act shall not apply--
“(1) to taxable, plan, or limitation
years beginning after December 31, 2012, or
“(2) in the case of title V,
to estates of decedents dying, gifts made, or generation skipping
transfers, after December 31, 2012.
“(b) APPLICATION OF CERTAIN LAWS.--The Internal
Revenue Code of 1986 and the Employee Retirement Income Security Act
of 1974 shall be applied and administered to years, estates, gifts,
and transfers described in subsection (a) as if the provisions and
amendments described in subsection (a) had never been enacted.
“(c) EXCEPTION.-Subsection (a) shall not apply
to section 803 (relating to no federal income tax on restitution received
by victims of the Nazi regime or their heirs or estates).”
EFFECTIVE DATE OF 2000 AMENDMENTS
Amendments by Sec. 165 of Pub. L. 106-554 effective for contributions
made after December 31, 2000.
EFFECTIVE DATE OF 1999 AMENDMENTS
Amendments by Sec. 532(c) of Pub. L. 106-170 effective for any
instrument held, acquired, or entered into, any transactions entered
into, and supplies held or acquired on or after the date of the enactment
of this Act [Enacted: Dec. 17, 1999].
Section 537(b) of Pub.
L. 106-170 provided that:
“(1) IN GENERAL.--Except as otherwise provided
in this section, the amendment made by this section shall apply to
transfers made after February 8, 1999.
“(2) EXCISE TAX.--Except as provided in paragraph
(3) of this subsection, section
170(f)(10)(F) of the Internal Revenue Code of 1986
(as added by this section) shall apply to premiums paid after the
date of the enactment of this Act [Enacted: Dec. 17, 1999].
“(3) REPORTING.--Clause (iii) of such section 170(f)(10)(F)
shall apply to premiums paid after February 8, 1999 (determined as
if the tax imposed by such section applies to premiums paid after
such date).”
EFFECTIVE DATE OF 1998 AMENDMENTS
Amendment by Sec. 1004(a)(1) of Pub. L. 105-277 effective for contributions
made after June 30, 1998.
Amendments by Sec. 6004(e) of Pub. L. 105-206 effective as if
included in the provisions of the Taxpayer Relief Act of 1997 to which
they relate [Effective Date of Pub.
L. 105-34, Sec. 224: Taxable years beginning after
December 31, 1997].
EFFECTIVE DATE OF 1997 AMENDMENTS
Amendment by Sec. 224(a) of Pub. L. 105-34 effective for taxable
years beginning after December 31, 1997.
Amendment by Sec. 508(d) of Pub. L. 105-34 effective for easements
granted after December 31, 1997.
Amendment by Sec. 602(a) of Pub. L. 105-34 effective for contributions
made after May 31, 1997.
Amendment by Sec. 973(a) of Pub. L. 105-34 effective for taxable
years beginning after December 31, 1997.
EFFECTIVE DATE OF 1996 AMENDMENTS
Amendment by section 1206(a) of Pub. L. 104-188 applicable to contributions
made after June 30, 1996.
Amendment by section 1316(b) of Pub. L. 104-188 applicable to taxable
years beginning after December 31, 1997.
EFFECTIVE DATE OF 1993 AMENDMENTS
Amendment by section 13172(a) of Pub. L. 103-66 applicable to contributions
made on or after January 1, 1994.
Amendment by section 13222(b) of Pub. L. 103-66 applicable to amounts
paid or incurred after December 31, 1993.
EFFECTIVE DATE OF 1990 AMENDMENTS
Amendment by section 11813(b)(10) of Pub. L. 101-508 applicable to property
placed in service after Dec. 31, 1990, but not applicable to any transition
property (as defined in section 49(e) of this title), any property
with respect to which qualified progress expenditures were previously
taken into account under section 46(d) of this title, and any property
described in section 46(b)(2)(C) of this title, as such sections were
in effect on Nov. 4, 1990, see section 11813(c) of Pub. L. 101-508, set out as a note
under section 29 of this title.
EFFECTIVE DATE OF 1988 AMENDMENTS
Section 6001(b) of Pub.
L. 100-647 provided that:
‘(1) In general. - The amendment made by this section
(amending this section) shall apply to taxable years beginning after
December 31, 1983.
‘(2) Waiver of statute of limitations. - If on
the date of the enactment of this Act (Nov. 10, 1988) (or at any time
within 1 year after such date of enactment) refund or credit of any
overpayment of tax resulting from the application of section 170(m)
of the 1986 Code (as added by subsection (a)) is barred by any law
or rule of law, refund or credit of such overpayment shall, nevertheless,
be made or allowed if claim therefore (sic) is filed before the date
1 year after the date of the enactment of this Act.’
EFFECTIVE DATE OF 1987 AMENDMENTS
Section 10711(c) of Pub.
L. 100-203 provided that: ‘The amendments made by
this section (amending this section and sections 501, 504, 2055, 2106,
and 2522 of this title) shall apply with respect to activities after
the date of the enactment of this Act (Dec. 22, 1987).’
EFFECTIVE DATE OF 1986 AMENDMENTS
Amendment by section 142(d) of Pub. L. 99-514 applicable to taxable
years beginning after Dec. 31, 1986, see section 151(a) of Pub. L. 99-514, set out as a note
under section 1 of this title.
Amendment by section 231(f) of Pub. L. 99-514 applicable to taxable
years beginning after Dec. 31, 1985, see section 231(g) of Pub. L. 99-514, set out as a note
under section 41 of this title.
Amendment by section 301(b)(2) of Pub. L. 99-514 applicable to taxable
years beginning after Dec. 31, 1986, see section 301(c) of Pub. L. 99-514, set out as a note
under section 62 of this title.
Amendment by section 1831 of Pub. L. 99-514 effective, except
as otherwise provided, as if included in the provisions of the Tax
Reform Act of 1984, Pub. L. 98-369,
div. A, to which such amendment relates, see section 1881 of Pub. L. 99-514, set out as a note
under section 48 of this title.
EFFECTIVE DATE OF 1984 AMENDMENTS
Amendment by section 174(b)(5)(A) of Pub. L. 98-369, applicable to transactions
after Dec. 31, 1983, in taxable years ending after that date, see
section 174(c)(2)(A) of Pub. L. 98-369,
set out as a note under section 267 of this title.
Section 301(d) of Pub.
L. 98-369 provided that:
‘(1) Subsections (a) and (c). - The amendments
made by subsections (a) and (c) (amending this section) shall apply
to contributions made in taxable years ending after the date of the
enactment of this Act (July 18, 1984).
‘(2) Subsection (b). - The amendment made by subsection
(b) (amending this section) shall apply to contributions made after
the date of the enactment of this Act (July 18, 1984) in taxable years
ending after such date.’
Section 492(d) of Pub.
L. 98-369 provided that: ‘The amendments made by
this section (amending this section and sections 341, 453B, 751, and
1252 of this title and repealing section 1251 of this title) shall
apply to taxable years beginning after December 31, 1983.’
Amendment by section 1022(b) of Pub. L. 98-369 applicable to reformations
after Dec. 31, 1978, except inapplicable to any reformation to which
section 2055(e)(3) of this title as in effect before July 18, 1984,
applies, see section 1022(e)(1) of Pub.
L. 98-369, set out as a note under section 2055 of
this title.
Section 1031(b) of Pub.
L. 98-369 provided that: ‘The amendments made by
subsection (a) (amending this section) shall apply to taxable years
beginning after December 31, 1984.’
Section 1032(c) of Pub.
L. 98-369 provided that: ‘The amendments made by
subsections (a) and (b) (amending this section and sections 501, 2055,
and 2522 of this title) shall apply to taxable years beginning after
the date of the enactment of this Act (July 18, 1984).’
Section 1035(b) of Pub.
L. 98-369 provided that: ‘The amendment made by subsection
(a) (amending this section) shall apply to contributions made after
the date of the enactment of this Act (July 18, 1984).’
EFFECTIVE DATE OF 1983 AMENDMENTS
For effective date of amendment by Pub. L. 97-473, see section 204(1)
of Pub. L. 97-473,
set out as an Effective Date note under section 7871 of this title.
Amendment by title I of Pub. L. 97-448 effective, except
as otherwise provided, as if it had been included in the provision
of the Economic Recovery Tax Act of 1981, Pub.
L. 97-34, to which such amendment relates, see section
109 of Pub. L. 97-448,
set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1982 AMENDMENTS
Amendment by Pub.
L. 97-354 applicable to taxable years beginning after
Dec. 31, 1982, see section 6(a) of Pub.
L. 97-354, set out as an Effective Date note under
section 1361 of this title.
Amendment by Pub.
L. 97-248 effective Oct. 5, 1976, see section 286(c)
of Pub. L. 97-248,
set out as a note under section 501 of this title.
EFFECTIVE DATE OF 1981 AMENDMENTS
Section 121(d) of Pub.
L. 97-34 provided that: ‘The amendments made by this
section (amending this section and sections 3, 57, and 63 of this
title) shall apply to contributions made after December 31, 1981,
in taxable years beginning after such date.’
Section 222(b) of Pub.
L. 97-34 provided that: ‘The amendment made by subsection
(a) (amending this section) shall apply to charitable contributions
made after the date of the enactment of this Act (Aug. 13, 1981),
in taxable years ending after such date.’
Section 263(b) of Pub.
L. 97-34 provided that: ‘The amendment made by this
section (amending this section) shall apply to taxable years beginning
after December 31, 1981.’
EFFECTIVE DATE OF 1980 AMENDMENTS
Section 6(d) of Pub.
L. 96-541 provided that: ‘The amendments made by
subsections (a) and (b) (amending this section) shall apply to transfers
made after the date of the enactment of this Act (Dec. 17, 1980) in
taxable years ending after such date.’
Amendment by Pub.
L. 96-465 effective Feb. 15, 1981, except as otherwise
provided, see section 2403 of Pub.
L. 96-465, set out as an Effective Date note under
section 3901 of Title 22, Foreign Relations and Intercourse.
EFFECTIVE DATE OF 1978 AMENDMENTS
Section 402(c)(2) of Pub.
L. 95-600 provided that: ‘The amendment made by subsection
(b)(2) (amending this section by substituting ‘40 percent’ for ‘50
percent’) shall apply to contributions made after October 31, 1978.'
Section 403(d)(2) of Pub.
L. 95-600 provided that: ‘The amendment made by paragraph
(1) of subsection (c) (amending this section by substituting ‘ 28/46’
for ‘62 1/2 percent’) shall apply to gifts made after December 31,
1978.'
EFFECTIVE DATE OF 1977 AMENDMENTS
Section 309(b)(1) of Pub.
L. 95-30, as amended by Pub. L. 96-541, Sec. 6(c), Dec.
17, 1980, 94 Stat. 3207, provided
that: ‘The amendment made by subsection (a) (amending this section)
shall apply with respect to contributions or transfers made after
June 13, 1977.’
EFFECTIVE DATE OF 1976 AMENDMENTS
Section 1052(d) of Pub.
L. 94-455 provided that: ‘The amendments made by
subsection (a) and paragraph (1) of subsection (c) (amending section
922 of this title) shall apply with respect to taxable years beginning
after December 31, 1975. The amendments made by subsection (b) (repealing
sections 921 and 922 of this title) and by subsection (c) (other than
paragraph (1)) (amending this section and sections 172, 907, 1503,
and 6091 of this title) shall apply with respect to taxable years
beginning after December 31, 1979.’
Amendment by section 1307 (d)(1)(B)(i), (c) of Pub. L. 94-455 effective for taxable
years beginning after Dec. 31, 1976, see section 1307(e) of Pub. L. 94-455, set out as a note
under section 501 of this title.
Amendment by section 1313(b)(1) of Pub. L. 94-455 effective Oct. 5,
1976, see section 1313(e) of Pub. L.
94-455, set out as a note under section 501 of this
title.
Amendment by section 1901(a)(28) of Pub. L. 94-455 effective for taxable
years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94-455, set out as a note
under section 2 of this title.
Section 2124(e)(4) of Pub.
L. 94-455, as amended by Pub.
L. 95-30, title III, Sec. 309(b)(2), May 23, 1977, 91 Stat. 154; Pub. L. 96-541, Sec. 6(c), Dec.
17, 1980, 94 Stat. 3207, provided
that: ‘The amendments made by this subsection (amending this section
and sections 2055 and 2522 of this title) shall apply with respect
to contributions or transfers made after June 13, 1976.’
Section 2135(b) of Pub.
L. 94-455 provided that: ‘The amendment made by this
section (amending this section) applies to charitable contributions
made after the date of enactment of this Act (Oct. 4, 1976), in taxable
years ending after such date.’
EFFECTIVE DATE OF 1969 AMENDMENTS
Amendment by section 101(j)(2) of Pub. L. 91-172 to take effect on
Jan. 1, 1970, see section 101(k)(1) of Pub.
L. 91-172, set out as an Effective Date note under
section 4940 of this title.
Section 201(g) of Pub.
L. 91-172, as amended by Pub. L. 99-514, Sec. 2, Oct. 22,
1986, 100 Stat. 2095, provided
that:
‘(1)(A) Except as provided in subparagraphs (B)
and (C), the amendments made by subsection (a) (amending this section
and sections 545, 556, and 809 of this title) shall apply to taxable
years beginning after December 31, 1969.
‘(B) Subsections (e) and (f)(1) of section 170 of the Internal Revenue Code of
1986 (formerly I.R.C. 1954)
(as amended by subsection (a)) shall apply to contributions paid after
December 31, 1969, except that, with respect to a letter or memorandum
or similar property described in section 1221(3) of such Code (as
amended by section 514 of this Act), such subsection (e) shall apply
to contributions paid after July 25, 1969.
‘(C) Paragraphs (2), (3), and (4) of section 170(f)
of such Code (as amended by subsection (a)) shall apply to transfers
in trust and contributions made after July 31, 1969.
‘(D) For purposes of applying section 170(d) of
such Code (as amended by subsection (a)) with respect to contributions
paid in a taxable year beginning before January 1, 1970, subsection
(b)(1)(D), subsection (e), and paragraphs (1), (2), (3), and (4) of
subsection (f) of section 170 of such Code shall not apply.
‘(2) The amendments made by subsection (b) (amending
section 642 of this title) shall apply with respect to amounts paid,
permanently set aside, or to be used for a charitable purpose in taxable
years beginning after December 31, 1969, except that section 642(c)(5) of the Internal Revenue Code of
1986 (as added by subsection (b)) shall apply to transfers in trust
made after July 31, 1969.
‘(3) The amendment made by subsection (c) (amending
section 673 of this title) shall apply to transfers in trust made
after April 22, 1969.
‘(4)(A) Except as provided in subparagraphs (B)
and (C), the amendments made by paragraphs (1) and (2) of subsection
(d) (amending sections 2055 and 2126 of this title) shall apply in
the case of decedents dying after December 31, 1969.
‘(B) Such amendments shall not apply in the case
of property passing under the terms of a will executed on or before
October 9, 1969 -
‘(i) if the decedent dies before
October 9, 1972, without having republished the will after October
9, 1969, by codicil or otherwise,
‘(ii) if the decedent at no
time after October 9, 1969, had the right to change the portions of
the will which pertain to the passing of the property to, or for the
use of, an organization described in section 2055(a) (section 2055(a)
of this title), or
‘(iii) if the will is not republished
by codicil or otherwise before October 9, 1972, and the decedent is
on such date and at all times thereafter under a mental disability
to republish the will by codicil or otherwise.
‘(C) Such amendments shall not apply in the case
of property transferred in trust on or before October 9, 1969 -
‘(i) if the decedent dies before
October 9, 1972, without having amended after October 9, 1969, the
instrument governing the disposition of the property,
‘(ii) if the property transferred
was an irrevocable interest to, or for the use of, an organization
described in section 2055(a), or
‘(iii) if the instrument governing
the disposition of the property was not amended by the decedent before
October 9, 1972, and the decedent is on such date and at all times
thereafter under a mental disability to change the disposition of
the property.
‘(D) The amendment made by paragraph (3) of subsection
(d) (amending section 2522 of this title) shall apply to gifts made
after December 31, 1969, except that the amendments made to section 2522(c)(2) of the Internal Revenue
Code of 1986 shall apply to gifts made after July
31, 1969.
‘(E) The amendments made by paragraph (4) of subsection
(d) (amending sections 2055, 2106, and 2522 of this title) shall apply
to gifts and transfers made after December 31, 1969.
‘(5) The amendment made by subsection (e) (enacting
section 664 of this title) shall apply to transfers in trust made
after July 31, 1969.
‘(6) The amendments made by subsection (f) (amending
section 1011 of this title) shall apply with respect to sales made
after December 19, 1969.’
Section 201(h)(2) of Pub.
L. 91-172 provided that: ‘The amendment made by this
subsection (amending this section) shall apply to taxable years beginning
after December 31, 1968.’
EFFECTIVE DATE OF 1966 AMENDMENTS
Amendment by Pub.
L. 89-570 applicable to taxable years ending after
Sept. 12, 1966, but only in respect of expenditures paid or incurred
after such date, see section 3 of Pub.
L. 89-570, set out as an Effective Date note under
section 617 of this title.
EFFECTIVE DATE OF 1964 AMENDMENTS
Section 209(f) of Pub.
L. 88-272, as amended by Pub. L. 99-514, Sec. 2, Oct. 22,
1986, 100 Stat. 2095, provided
that:
‘(1) The amendments made by subsections (a), (b),
and (c) (amending this section and sections 545 and 556 of this title),
shall apply with respect to contributions which are paid in taxable
years beginning after December 31, 1963.
‘(2) The amendments made by subsection (d) (amending
this section and section 381 of this title) shall apply to taxable
years beginning after December 31, 1963, with respect to contributions
which are paid (or treated as paid under section 170(a)(2) of the Internal Revenue Code of
1986 (formerly I.R.C. 1954))
in taxable years beginning after December 31, 1961.
‘(3) The amendments made by subsection (e) (amending
this section) shall apply to transfers of future interests made after
December 31, 1963, in taxable years ending after such date, except
that such amendments shall not apply to any transfer of a future interest
made before July 1, 1964, where -
‘(A) the sole intervening interest
or right is a nontransferable life interest reserved by the donor,
or
‘(B) in the case of a joint
gift by husband and wife, the sole intervening interest or right is
a nontransferable life interest reserved by the donors which expires
not later than the death of whichever of such donors dies later.
For purposes of the exception contained in the
preceding sentence, a right to make a transfer of the reserved life
interest to the donee of the future interest shall not be treated
as making a life interest transferable.'
Amendment by section 231(b)(1) of Pub. L. 88-272 applicable to dispositions
after Dec. 31, 1963, in taxable years ending after such date, see
section 231(c) of Pub. L. 88-272,
set out as an Effective Date note under section 1250 of this title.
EFFECTIVE DATE OF 1962 AMENDMENTS
Section 2(c) of Pub.
L. 87-858 provided that: ‘The amendments made by
subsections (a) and (b) (amending this section) shall apply to taxable
years beginning after December 31, 1960.’
Amendment by Pub.
L. 87-834 applicable to taxable years beginning after
Dec. 31, 1962, see section 13(g) of Pub.
L. 87-834, set out as an Effective Date note under
section 1245 of this title.
EFFECTIVE DATE OF 1960 AMENDMENTS
Amendment by Pub.
L. 86-779 applicable with respect to taxable years
beginning after Dec. 31, 1959, see section 7(c) of Pub. L. 86-779, set out as a note
under section 162 of this title.
EFFECTIVE DATE OF 1958 AMENDMENTS
Section 10(b) of Pub.
L. 85-866 provided that: ‘The amendment made by subsection
(a) (amending this section) shall apply with respect to taxable years
beginning after December 31, 1957.’
Amendment by section 11 of Pub. L. 85-866 applicable to taxable
years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954,
see section 1(c)(1) of Pub. L. 85-866,
set out as a note under section 165 of this title.
Section 12(b) of Pub.
L. 85-866 provided that: ‘The amendment made by subsection
(a) (amending this section) shall apply to taxable years ending after
December 31, 1957, but only with respect to charitable contributions
made after such date.’
EFFECTIVE DATE OF 1956 AMENDMENTS
Section 2 of act Aug. 7, 1956, provided that: ‘The
amendment made by this Act (amending this section) shall apply only
with respect to taxable years beginning after December 31, 1955.’
SPECIAL RULES FOR CONTRIBUTIONS
FOR RELIEF OF THE FAMILIES OF THE MASS SHOOTING IN VIRGINIA BEACH
Section 2 of Pub. L. 116-98 provided:
“SEC. 2. SPECIAL RULES FOR CONTRIBUTIONS
FOR RELIEF OF THE FAMILIES OF THE MASS SHOOTING IN VIRGINIA BEACH.
“(a) CLARIFICATION THAT CONTRIBUTION WILL
NOT FAIL TO QUALIFY AS A CHARITABLE CONTRIBUTION.—A cash contribution
made for the relief of the families of the dead or wounded victims
of the mass shooting in Virginia Beach, Virginia, on May 31, 2019,
shall not fail to be treated as a charitable contribution for purposes
of section 170 of the Internal Revenue
Code of 1986 merely because such contribution is for the
exclusive benefit of such families. The preceding sentence shall apply
to contributions made on or after May 31, 2019.
“(b) CLARIFICATION THAT PAYMENTS BY CHARITABLE
ORGANIZATIONS TO FAMILIES TREATED AS EXEMPT PAYMENTS.—For purposes
of the Internal Revenue Code of 1986, payments made on or after May
31, 2019, and on or before June 1, 2021, to the spouse or any dependent
(as defined in section 152 of such Code) of the dead or wounded victims
of the mass shooting in Virginia Beach, Virginia, on May 31, 2019,
by an organization which (determined without regard to any such payments)
would be an organization exempt from tax under section 501(a) of such
Code shall—
“(1) be treated as related to the purpose
or function constituting the basis for such organization's exemption
under such section; and
“(2) shall not be treated as inuring to the
benefit of any private individual,
“if such payments are made in good faith
using a reasonable and objective formula which is consistently applied
with respect to such victims.”
OTHER DISASTER-RELATED
TAX RELIEF PROVISIONS.
Section 204 of Pub. L. 116-94, Div. Q, provided:
“(a) TEMPORARY INCREASE
IN LIMITATION ON QUALIFIED CONTRIBUTIONS.—
“(1) SUSPENSION OF
CURRENT LIMITATION.—Except as otherwise provided in paragraph
(2), qualified contributions shall be disregarded in applying subsections
(b) and (d) of section 170 of the Internal
Revenue Code of 1986.
“(2) APPLICATION OF
INCREASED LIMITATION.— For purposes of section
170 of the Internal Revenue Code of 1986—
“(A) INDIVIDUALS.—In
the case of an individual—
“(i) LIMITATION.—Any
qualified contribution shall be allowed as a deduction only to the
extent that the aggregate of such contributions does not exceed the
excess of the taxpayer's contribution base (as defined in subparagraph
(H) of section 170(b)(1) of such Code) over the amount of all other
charitable contributions allowed under section 170(b)(1) of such Code.
“(ii) CARRYOVER.—If
the aggregate amount of qualified contributions made in the contribution
year (within the meaning of section 170(d)(1) of such Code) exceeds
the limitation of clause (i), such excess shall be added to the excess
described in section 170(b)(1)(G)(ii).
“(B) CORPORATIONS.—In
the case of a corporation—
“(i) LIMITATION.—Any
qualified contribution shall be allowed as a deduction only to the
extent that the aggregate of such contributions does not exceed the
excess of the taxpayer's taxable income (as determined under
paragraph (2) of section 170(b) of such Code) over the amount of all
other charitable contributions allowed under such paragraph.
“(ii) CARRYOVER.—If
the aggregate amount of qualified contributions made in the contribution
year (within the meaning of section 170(d)(2) of such Code) exceeds
the limitation of clause (i), such excess shall be appropriately taken
into account under section 170(d)(2) subject to the limitations thereof.
“(3) QUALIFIED CONTRIBUTIONS.—
“(A) IN GENERAL.—For
purposes of this subsection, the term ‘‘qualified contribution’’
means any charitable contribution (as defined in section 170(c) of the Internal Revenue Code of
1986) if—
“(i) such contribution—
“(I) is paid, during
the period beginning on January 1, 2018, and ending on the date which
is 60 days after the date of the enactment of this Act, in cash to
an organization described in section 170(b)(1)(A) of such Code, and
“(II) is made for
relief efforts in one or more qualified disaster areas,
“(ii) the taxpayer
obtains from such organization contemporaneous written acknowledgment
(within the meaning of section 170(f)(8) of such Code) that such contribution
was used (or is to be used) for relief efforts described in clause
(i)(II), and
“(iii) the taxpayer
has elected the application of this subsection with respect to such
contribution.
“(B) EXCEPTION.—Such
term shall not include a contribution by a donor if the contribution
is—
“(i) to an organization
described in section 509(a)(3) of
the Internal Revenue Code of 1986, or
“(ii) for the establishment
of a new, or maintenance of an existing, donor advised fund (as defined
in section 4966(d)(2) of such Code).
“(C) APPLICATION OF
ELECTION TO PARTNERSHIPS AND S CORPORATIONS.—In the case of
a partnership or S corporation, the election under subparagraph (A)(iii)
shall be made separately by each partner or shareholder.
“(b) SPECIAL RULES
FOR QUALIFIED DISASTER-RELATED PERSONAL CASUALTY LOSSES.—
“(1) IN GENERAL.—If
an individual has a net disaster loss for any taxable year—
“(A) the amount determined
under section 165(h)(2)(A)(ii)
of the Internal Revenue Code of 1986 shall be equal to
the sum of—
“(i) such net disaster
loss, and
“(ii) so much of the
excess referred to in the matter preceding clause (i) of section 165(h)(2)(A)
of such Code (reduced by the amount in clause (i) of this subparagraph)
as exceeds 10 percent of the adjusted gross income of the individual,
“(B) section 165(h)(1)
of such Code shall be applied by substituting ‘‘$500’’
for ‘‘$500 ($100 for taxable years beginning after December
31, 2009)’’,
“(C) the standard
deduction determined under section 63(c) of such Code shall be increased
by the net disaster loss, and
“(D) section 56(b)(1)(E)
of such Code (section 56(b)(1)(D) of such Code in the case of taxable
years ending after December 31, 2018) shall not apply to so much of
the standard deduction as is attributable to the increase under subparagraph
(C) of this paragraph.
“(2) NET DISASTER
LOSS.—For purposes of this subsection, the term ‘‘net
disaster loss’’ means the excess of qualified disaster-related
personal casualty losses over personal casualty gains (as defined
in section 165(h)(3)(A) of the
Internal Revenue Code of 1986).
“(3) QUALIFIED DISASTER-RELATED
PERSONAL CASUALTY LOSSES.—For purposes of this subsection, the
term ‘‘qualified disaster-related personal casualty losses’’
means losses described in section
165(c)(3) of the Internal Revenue Code of 1986 which arise
in a qualified disaster area on or after the first day of the incident
period of the qualified disaster to which such area relates, and which
are attributable to such qualified disaster.
“(c) SPECIAL RULE
FOR DETERMINING EARNED INCOME.—
“(1) IN GENERAL.—In
the case of a qualified individual, if the earned income of the taxpayer
for the applicable taxable year is less than the earned income of
the taxpayer for the preceding taxable year, the credits allowed under
sections 24(d) and 32 of the Internal Revenue
Code of 1986 may, at the election of the taxpayer, be determined
by substituting—
“(A) such earned income
for the preceding taxable year, for
“(B) such earned income
for the applicable taxable year.
“(2) QUALIFIED INDIVIDUAL.—For
purposes of this subsection, the term ‘‘qualified individual’’
means any individual whose principal place of abode at any time during
the incident period of any qualified disaster was located—
“(A) in the qualified
disaster zone with respect to such qualified disaster, or
“(B) in the qualified
disaster area with respect to such qualified disaster (but outside
the qualified disaster zone with respect to such quali1760 fied disaster)
and such individual was displaced from such principal place of abode
by reason of such qualified disaster.
“(3) APPLICABLE TAXABLE
YEAR.—For purposes of this subsection, the term ‘‘applicable
taxable year’’ means—
“(A) in the case of
a qualified individual other than an individual described in subparagraph
(B), any taxable year which includes any portion of the incident period
of the qualified disaster to which the qualified disaster area referred
to in paragraph (2)(A) relates, or
“(B) in the case of
a qualified individual described in subparagraph (B) of paragraph
(2), any taxable year which includes any portion of the period described
in such subparagraph.
“(4) EARNED INCOME.—For
purposes of this subsection, the term ‘‘earned income’’
has the meaning given such term under section
32(c) of the Internal Revenue Code of 1986.
“(5) SPECIAL RULES.—
“(A) APPLICATION TO
JOINT RETURNS.—For purposes of paragraph (1), in the case of
a joint return for an applicable taxable year—
“(i) such paragraph
shall apply if either spouse is a qualified individual, and
“(ii) the earned income
of the taxpayer for the preceding taxable year shall be the sum of
the earned income of each spouse for such preceding taxable year.
“(B) UNIFORM APPLICATION
OF ELECTION.— Any election made under paragraph (1) shall apply
with respect to both sections 24(d) and 32
of the Internal Revenue Code of 1986.
“(C) ERRORS TREATED
AS MATHEMATICAL ERROR.—For purposes of section
6213 of the Internal Revenue Code of 1986, an incorrect
use on a return of earned income pursuant to paragraph (1) shall be
treated as a mathematical or clerical error.
“(D) NO EFFECT ON
DETERMINATION OF GROSS INCOME, ETC.—Except as otherwise provided
in this subsection, the Internal Revenue Code of 1986 shall be applied
without regard to any substitution under paragraph (1).”
TEMPORARY SUSPENSION
OF LIMITATIONS ON CHARITABLE CONTRIBUTIONS
Section 504(a) of Pub.
L. 115–63 provided:
“(1) IN GENERAL.—Except as otherwise
provided in paragraph (2), subsection (b) of section
170 of the Internal Revenue Code of 1986 shall not apply
to qualified contributions and such contributions shall not be taken
into account for purposes of applying subsections (b) and (d) of
such section to other contributions.”
“(2) TREATMENT OF EXCESS CONTRIBUTIONS.—For
purposes of section 170 of the Internal
Revenue Code of 1986—
“(A) INDIVIDUALS.—In the case of an
individual—
“(i) LIMITATION.—Any qualified contribution
shall be allowed only to the extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's contribution base
(as defined in subparagraph (G) of section 170(b)(1) of such Code)
over the amount of all other charitable contributions allowed under
section 170(b)(1) of such Code.
“(ii) CARRYOVER.—If the aggregate
amount of qualified contributions made in the contribution year (within
the meaning of section 170(d)(1) of such Code) exceeds the limitation
of clause (i), such excess shall be added to the excess described
in the portion of subparagraph (A) of such section which precedes
clause (i) thereof for purposes of applying such section.
“(B) CORPORATIONS.—In the case of a
corporation—
“(i) LIMITATION.—Any qualified contribution
shall be allowed only to the extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's taxable income
(as determined under paragraph (2) of section 170(b) of such Code)
over the amount of all other charitable contributions allowed under
such paragraph.
“(ii) CARRYOVER.—Rules similar to the
rules of subparagraph (A)(ii) shall apply for purposes of this subparagraph.”
“(3) EXCEPTION TO OVERALL LIMITATION ON
ITEMIZED DEDUCTIONS.—So much of any deduction allowed under section 170 of the Internal Revenue Code of
1986 as does not exceed the qualified contributions paid during the
taxable year shall not be treated as an itemized deduction for purposes
of section 68 of such Code.
“(4) QUALIFIED CONTRIBUTIONS.—
“(A) IN GENERAL.—For purposes of this
subsection, the term ‘‘qualified contribution’’
means any charitable contribution (as defined in section 170(c) of the Internal Revenue Code of
1986) if—
“(i) such contribution—
“(I) is paid during the period beginning
on August 23, 2017, and ending on December 31, 2017, in cash to an
organization described in section 170(b)(1)(A) of such Code, and
“(II) is made for relief efforts in the Hurricane
Harvey disaster area, the Hurricane Irma disaster area, or the Hurricane
Maria disaster area,
“(ii) the taxpayer obtains from such organization
contemporaneous written acknowledgment (within the meaning of section
170(f)(8) of such Code) that such contribution was used (or is to
be used) for relief efforts described in clause (i)(II), and
“(iii) the taxpayer has elected the application
of this subsection with respect to such contribution.
“(B) EXCEPTION.—Such term shall not
include a contribution by a donor if the contribution is—
“(i) to an organization described in section 509(a)(3) of the Internal Revenue Code of
1986, or
“(ii) for the establishment of a new, or
maintenance of an existing, donor advised fund (as defined in section
4966(d)(2) of such Code).
“(C) APPLICATION OF ELECTION TO PARTNERSHIPS
AND S CORPORATIONS.—In the case of a partnership or S corporation,
the election under subparagraph (A)(iii) shall be made separately
by each partner or shareholder.”
ACCELERATION OF INCOME TAX BENEFITS FOR CHARITABLE
CASH CONTRIBUTIONS FOR RELIEF OF THE FAMILIES OF NEW YORK POLICE DEPARTMENT
DETECTIVES WENJIAN LIU AND RAFAEL RAMOS
Section 2 of Pub.
L. 114-7 provided that:
“(a) IN GENERAL.—For purposes of section 170 of the Internal Revenue Code of
1986 a taxpayer may treat any contribution described in subsection
(b) made between January 1, 2015, and April 15, 2015, as if such contribution
was made on December 31, 2014, and not in 2015.
“(b) CONTRIBUTION DESCRIBED.—A contribution
is described in this subsection if such contribution is a cash contribution
made for the relief of the families of slain New York Police Department
Detectives Wenjian Liu and Rafael Ramos, for which a charitable contribution
deduction is allowable under section 170
of the Internal Revenue Codeof 1986.
“(c) RECORDKEEPING.—In the case of
a contribution described in subsection (b), a telephone bill showing
the name of the donee organization, the date of the contribution,
and the amount of the contribution shall be treated as meeting the
recordkeeping requirements of section
170(f)(17) of the Internal Revenue Code of 1986.
“(d) CLARIFICATION THAT CONTRIBUTION WILL
NOT FAIL TO QUALIFY AS A CHARITABLE CONTRIBUTION — A cash contribution
made for the relief of the families of slain New York Police Department
Detectives Wenjian Liu and Rafael Ramos shall not fail to be treated
as a charitable contribution for purposes of section
170 of the Internal Revenue Code of 1986 and subsection
(b) of this section merely because such contribution is for the exclusive
benefit of such families. The preceding sentence shall apply to contributions
made on or after December 20, 2014.
“(e) CLARIFICATION THAT PAYMENTS BY CHARITABLE
ORGANIZATIONS TO FAMILIES TREATED AS EXEMPT PAYMENTS.—For purposes
of the Internal Revenue Code of 1986, payments made on or after December
20, 2014, and on or before October 15, 2015, to the spouse or any
dependent (as defined in section 152 of such Code) of slain New York
Police Department Detectives Wenjian Liu or Rafael Ramos by an organization
which (determined without regard to any such payments) would be an
organization exempt from tax under section 501(a) of such Code shall—
“(1) be treated as related to the purpose
or function constituting the basis for such organization's exemption
under such section, and
“(2) shall not be treated as inuring to the
benefit of any private individual, if such payments are made in good
faith using a reasonable and objective formula which is consistently
applied with respect to such Detectives.”
ACCELERATION OF INCOME TAX BENEFITS FOR CHARITABLE
CASH CONTRIBUTIONS FOR RELIEF OF VICTIMS OF TYPHOON HAIYAN IN THE
PHILIPPINES
Section
2 of Pub. L. 113-92 provided
that:
“(a) IN GENERAL.—For purposes of section 170 of the Internal Revenue Code of
1986, a taxpayer may treat any contribution described in subsection
(b) made after the date of the enactment of this Act [Enacted: Mar.
25, 2014], and before April 15, 2014, as if such contribution was
made on December 31, 2013, and not in 2014.
“(b)
CONTRIBUTION DESCRIBED.—A contribution is described in this
subsection if such contribution is a cash contribution made for the
relief of victims in areas affected by Typhoon Haiyan, for which a
charitable contribution deduction is allowable under section 170 of the Internal Revenue Code of
1986.
“(c)
RECORDKEEPING.—In the case of a contribution described in subsection
(b), a telephone bill showing the name of the donee organization,
the date of the contribution, and the amount of the contribution shall
be treated as meeting the recordkeeping requirements of section 170(f)(17) of the Internal Revenue
Code of 1986.”
WITHDRAWAL OF CERTAIN FEDERAL LAND AND INTERESTS
IN CERTAIN FEDERAL LAND FROM LOCATION, ENTRY, AND PATENT UNDER THE
MINING LAWS AND DISPOSITION UNDER THE MINERAL AND GEOTHERMAL LEASING
LAWS
Section 403(c) of Pub.
L. 109-432, div. C, provided that:
“(c) Tax Incentive for Sale of Existing Mineral
and Geothermal Rights to Tax-Exempt Entities-
“(1) EXCLUSION- For purposes of the Internal Revenue
Code of 1986, gross income shall not include 25 percent of the
qualifying gain from a conservation sale of a qualifying mineral
or geothermal interest.
“(2) QUALIFYING GAIN- For purposes of this subsection,
the term ‘qualifying gain’ means any gain which would be recognized
as long-term capital gain under such Code.
“(3) CONSERVATION SALE- For purposes of this subsection,
the term ‘conservation sale’ means a sale which meets the following
requirements:
“(A) TRANSFEREE IS AN ELIGIBLE ENTITY- The transferee
of the qualifying mineral or geothermal interest is an eligible
entity.
“(B) QUALIFYING LETTER OF INTENT REQUIRED- At the
time of the sale, such transferee provides the taxpayer with
a qualifying letter of intent.
“(C) NONAPPLICATION TO CERTAIN SALES- The sale
is not made pursuant to an order of condemnation or eminent
domain.
“(4) QUALIFYING MINERAL OR GEOTHERMAL INTEREST-
For purposes of this subsection--
“(A) IN GENERAL- The term ‘qualifying mineral or
geothermal interest’ means an interest in any mineral or geothermal
deposit located on eligible Federal land which constitutes
a taxpayer's entire interest in such deposit.
“(B) ENTIRE INTEREST- For purposes of subparagraph
(A)--
“(i) an interest in any mineral or geothermal deposit
is not a taxpayer's entire interest if such interest in such
mineral or geothermal deposit was divided in order to avoid
the requirements of such subparagraph or section 170(f)(3)(A)
of such Code, and
“(ii) a taxpayer's entire interest in such deposit
does not fail to satisfy such subparagraph solely because
the taxpayer has retained an interest in other deposits,
even if the other deposits are contiguous with such certain
deposit and were acquired by the taxpayer along with such
certain deposit in a single conveyance.
“(5) OTHER DEFINITIONS- For purposes of this subsection--
“(A) ELIGIBLE ENTITY- The term ‘eligible entity’
means--
“(i) a governmental unit referred to in section
170(c)(1) of such Code, or an agency or department thereof
operated primarily for 1 or more of the conservation purposes
specified in clause (i), (ii), or (iii) of section 170(h)(4)(A)
of such Code, or
“(ii) an entity which is--
“(I) described in section 170(b)(1)(A)(vi) or section
170(h)(3)(B) of such Code, and
“(II) organized and at all times operated primarily
for 1 or more of the conservation purposes specified in
clause (i), (ii), or (iii) of section 170(h)(4)(A) of such
Code.
“(B) QUALIFYING LETTER OF INTENT- The term ‘qualifying
letter of intent’ means a written letter of intent which includes
the following statement: ‘The transferee's intent is that this
acquisition will serve 1 or more of the conservation purposes
specified in clause (i), (ii), or (iii) of section 170(h)(4)(A) of the Internal Revenue
Code of 1986, that the transferee's use of the deposits
so acquired will be consistent with section 170(h)(5) of such
Code, and that the use of the deposits will continue to be
consistent with such section, even if ownership or possession
of such deposits is subsequently transferred to another person.'.
“(6) TAX ON SUBSEQUENT TRANSFERS-
“(A) IN GENERAL- A tax is hereby imposed on any
subsequent transfer by an eligible entity of ownership or possession,
whether by sale, exchange, or lease, of an interest acquired
directly or indirectly in--
“(i) a conservation sale described in paragraph
(1), or
“(ii) a transfer described in clause (i), (ii),
or (iii) of subparagraph (D).
“(B) AMOUNT OF TAX- The amount of tax imposed by
subparagraph (A) on any transfer shall be equal to the sum
of--
“(i) 20 percent of the fair market value (determined
at the time of the transfer) of the interest the ownership
or possession of which is transferred, plus
“(ii) the product of--
“(I) the highest rate of tax specified in section
11 of such Code, times
“(II) any gain or income realized by the transferor
as a result of the transfer.
“(C) LIABILITY- The tax imposed by subparagraph
(A) shall be paid by the transferor.
“(D) RELIEF FROM LIABILITY- The person (otherwise
liable for any tax imposed by subparagraph (A)) shall be relieved
of liability for the tax imposed by subparagraph (A) with respect
to any transfer if--
“(i) the transferee is an eligible entity which
provides such person, at the time of transfer, a qualifying
letter of intent,
“(ii) in any case where the transferee is not an
eligible entity, it is established to the satisfaction of
the Secretary of the Treasury, that the transfer of ownership
or possession, as the case may be, will be consistent with
section 170(h)(5) of such Code, and the transferee provides
such person, at the time of transfer, a qualifying letter of
intent, or
“(iii) tax has previously been paid under this
paragraph as a result of a prior transfer of ownership or
possession of the same interest.
“(E) ADMINISTRATIVE PROVISIONS- For purposes of
subtitle F of such Code, the taxes imposed by this paragraph
shall be treated as excise taxes with respect to which the
deficiency procedures of such subtitle apply.
“(7) REPORTING- The Secretary of the Treasury may
require such reporting as may be necessary or appropriate to
further the purpose under this subsection that any conservation
use be in perpetuity.”
TEMPORARY SUSPENSION OF LIMITATIONS ON CHARITABLE
CONTRIBUTIONS
Section 301 of Pub.
L. 109-73, before repeal by Pub. L. 109-135, Sec. 201(b)(4) (effective
Dec. 21, 2005), provided that:
“(a) IN GENERAL.--Except as otherwise provided
in subsection (b), section 170(b) of
the Internal Revenue Code of 1986 shall not apply to qualified
contributions and such contributions shall not be taken into account
for purposes of applying subsections (b) and (d) of section 170 of
such Code to other contributions.
“(b) TREATMENT OF EXCESS CONTRIBUTIONS.--For purposes
of section 170 of such Code--
“(1) INDIVIDUALS.--In the case of an individual--
“(A) LIMITATION.--Any qualified contribution shall
be allowed only to the extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's contribution base (as
defined in subparagraph (F) of section 170(b)(1) of such Code) over
the amount of all other charitable contributions allowed under such
section 170(b)(1).
“(B) CARRYOVER.--If the aggregate amount of qualified
contributions made in the contribution year (within the meaning of
section 170(d)(1) of such Code) exceeds the limitation of subparagraph
(A), such excess shall be added to the excess described in the portion
of subparagraph (A) of such section which precedes clause (i) thereof
for purposes of applying such section.
“(2) CORPORATIONS.--In the case of a corporation--
“(A) LIMITATION.--Any qualified contribution shall
be allowed only to the extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's taxable income (as determined
under paragraph (2) of section 170(b) of such Code) over the amount
of all other charitable contributions allowed under such paragraph.
“(B) CARRYOVER.--Rules similar to the rules of
paragraph (1)(B) shall apply for purposes of this paragraph.
“(c) EXCEPTION TO OVERALL LIMITATION ON ITEMIZED
DEDUCTIONS.--So much of any deduction allowed under section 170 of
such Code as does not exceed the qualified contributions paid during
the taxable year shall not be treated as an itemized deduction for
purposes of section 68 of such Code.
“(d) QUALIFIED CONTRIBUTIONS.--
“(1) IN GENERAL.--For purposes of this section,
the term “qualified contribution” means any charitable contribution
(as defined in section 170(c) of such Code)--
“(A) paid during the period beginning on August
28, 2005, and ending on December 31, 2005, in cash to an organization
described in section 170(b)(1)(A) of such Code (other than an organization
described in section 509(a)(3) of such Code),
“(B) in the case of a contribution paid by a corporation,
such contribution is for relief efforts related to Hurricane Katrina,
and
“(C) with respect to which the taxpayer has elected
the application of this section.
“(2) EXCEPTION.--Such term shall not include a
contribution if the contribution is for establishment of a new, or
maintenance in an existing, segregated fund or account with respect
to which the donor (or any person appointed or designated by such
donor) has, or reasonably expects to have, advisory privileges with
respect to distributions or investments by reason of the donor's status
as a donor.
“(3) APPLICATION OF ELECTION TO PARTNERSHIPS AND
S CORPORATIONS.--In the case of a partnership or S corporation, the
election under paragraph (1)(C) shall be made separately by each partner
or shareholder.”
INCREASE IN STANDARD MILEAGE RATE FOR CHARITABLE
USE OF VEHICLES
Section 303 of Pub.
L. 109-73 provided that:
“Notwithstanding section
170(i) of the Internal Revenue Code of 1986, for purposes
of computing the deduction under section 170 of such Code for use
of a vehicle described in subsection (f)(12)(E)(i) of such section
for provision of relief related to Hurricane Katrina during the period
beginning on August 25, 2005, and ending on December 31, 2006, the
standard mileage rate shall be 70 percent of the standard mileage
rate in effect under section 162(a) of such Code at the time of such
use. Any increase under this section shall be rounded to the next
highest cent.”
MILEAGE REIMBURSEMENTS TO CHARITABLE VOLUNTEERS
EXCLUDED FROM GROSS INCOME
Section 304 of Pub.
L. 109-73 provided that:
“(a) IN GENERAL.--For purposes of the Internal
Revenue Code of 1986, gross income of an individual for taxable years
ending on or after August 25, 2005, does not include amounts received,
from an organization described in section 170(c) of such Code, as
reimbursement of operating expenses with respect to use of a passenger
automobile for the benefit of such organization in connection with
providing relief relating to Hurricane Katrina during the period beginning
on August 25, 2005, and ending on December 31, 2006. The preceding
sentence shall apply only to the extent that the expenses which are
reimbursed would be deductible under chapter 1 of such Code if section
274(d) of such Code were applied--
“(1) by using the standard business mileage rate
in effect under section 162(a) at the time of such use, and
“(2) as if the individual were an employee of an
organization not described in section 170(c) of such Code.
“(b) APPLICATION TO VOLUNTEER SERVICES ONLY.--Subsection
(a) shall not apply with respect to any expenses relating to the performance
of services for compensation.
“(c) NO DOUBLE BENEFIT.--No deduction or credit
shall be allowed under any other provision of such Code with respect
to the expenses excludable from gross income under subsection (a).”
ACCELERATION OF INCOME TAX BENEFITS FOR CHARITABLE
CASH CONTRIBUTIONS FOR RELIEF OF INDIAN OCEAN TSUNAMI VICTIMS
Section 1 of Pub.
L. 109-1 provided that:
“(a) IN GENERAL.--For purposes of section 170 of the Internal Revenue Code of
1986, a taxpayer may treat any contribution described in subsection
(b) made in January 2005 as if such contribution was made on December
31, 2004, and not in January 2005.
(b) CONTRIBUTION DESCRIBED.--A contribution is
described in this subsection if such contribution is a cash contribution
made for the relief of victims in areas affected by the December
26, 2004, Indian Ocean tsunami for which a charitable contribution
deduction is allowable under section 170
of the Internal Revenue Code of 1986.”
ANTI-ABUSE RULES
Section 882(e) of Pub.
L. 108-357 provided that:
“(e) Anti-Abuse Rules- The Secretary of the Treasury
may prescribe such regulations or other guidance as may be necessary
or appropriate to prevent the avoidance of the purposes of section 170(e)(1)(B)(iii) of the Internal
Revenue Code of 1986 (as added by subsection
(a)), including preventing--
“(1) the circumvention of the reduction of the
charitable deduction by embedding or bundling the patent or similar
property as part of a charitable contribution of property that
includes the patent or similar property,
“(2) the manipulation of the basis of the property
to increase the amount of the charitable deduction through the
use of related persons, pass-thru entities, or other intermediaries,
or through the use of any provision of law or regulation (including
the consolidated return regulations), and
“(3) a donor from changing the form of the patent
or similar property to property of a form for which different
deduction rules would apply.”
SAVINGS PROVISION
For provisions that nothing in amendment by Pub. L. 101-508 be construed to
affect treatment of certain transactions occurring, property acquired,
or items of income, loss, deduction, or credit taken into account
prior to Nov. 5, 1990, for purposes of determining liability for tax
for periods ending after Nov. 5, 1990, see section 11821(b) of Pub. L. 101-508, set out as a note
under section 29 of this title.
AUTHORITY TO WAIVE APPRAISAL REQUIREMENT FOR
CERTAIN CHARITABLE CONTRIBUTIONS OF PROPERTY
Section 6281 of Pub.
L. 100-647 provided that: ‘Notwithstanding paragraph
(2) of section 155(a) of the Tax Reform Act of 1984 (section 155(a)(2)
of Pub. L. 98-369,
set out below), the Secretary of the Treasury or his delegate may
in the regulations prescribed pursuant to such section waive the requirement
of a qualified appraisal in the case of a qualified contribution (within
the meaning of section 170(e)(3)(A) of the 1986 Code) of property
described in section 1221(1) (probably means section 1221(1) of the
1986 Code) with a claimed value in excess of $5,000.'
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1,
1989
For provisions directing that if any amendments
made by subtitle A or subtitle C of title XI (Sec. 1101-1147 and 1171-1177)
or title XVIII (Sec. 1800-1899A) of Pub.
L. 99-514 require an amendment to any plan, such
plan amendment shall not be required to be made before the first plan
year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99-514, as amended, set out
as a note under section 401 of this title.
TREATMENT OF CERTAIN AMOUNTS PAID TO OR FOR
THE BENEFIT OF CERTAIN INSTITUTIONS OF HIGHER EDUCATION
Section 1608 of Pub.
L. 99-514, which related to treatment of certain
amounts paid to or for the benefit of certain institutions of higher
education, was repealed by Pub. L.
100-647, title I, Sec. 1016(b), Nov. 10, 1988, 102 Stat. 3575.
SUBSTANTIATION OF CHARITABLE CONTRIBUTIONS OF
PROPERTY
Section 155(a) of Pub.
L. 98-369, as amended by Pub. L. 99-514, Sec. 2, Oct. 22,
1986, 100 Stat. 2095, provided
that:
‘(1) In general. - Not later than December 31,
1984, the Secretary shall prescribe regulations under section
170(a)(1) of the Internal Revenue Code of 1986 (formerly I.R.C. 1954), which require any individual,
closely held corporation, or personal service corporation claiming
a deduction under section 170 of such Code for a contribution described
in paragraph (2) -
‘(A) to obtain a qualified appraisal
for the property contributed,
‘(B) to attach an appraisal
summary to the return on which such deduction is first claimed for
such contribution, and
‘(C) to include on such return
such additional information (including the cost basis and acquisition
date of the contributed property) as the Secretary may prescribe in
such regulations.
Such regulations shall require the taxpayer to
retain any qualified appraisal.
‘(2) Contributions to which paragraph (1) applies.
- For purposes of paragraph (1), a contribution is described in this
paragraph -
‘(A) if such contribution is
of property (other than publicly traded securities), and
‘(B) if the claimed value of
such property (plus the claimed value of all similar items of property
donated to 1 or more donees) exceeds $5,000.
In the case of any property which is nonpublicly
traded stock, subparagraph (B) shall be applied by substituting ‘$10,000’
for ‘$5,000’.
‘(3) Appraisal summary. - For purposes of this
subsection, the appraisal summary shall be in such form and include
such information as the Secretary prescribes by regulations. Such
summary shall be signed by the qualified appraiser preparing the qualified
appraisal and shall contain the TIN of such appraiser.
Such summary shall be acknowledged by the donee
of the property appraised in such manner as the Secretary prescribes
in such regulations.
‘(4) Qualified appraisal. - The term ‘qualified
appraisal’ means an appraisal prepared by a qualified appraiser which
includes -
‘(A) a description of the property appraised,
‘(B) the fair market value of
such property on the date of contribution and the specific basis for
the valuation,
‘(C) a statement that such appraisal
was prepared for income tax purposes,
‘(D) the qualifications of the qualified appraiser,
‘(E) the signature and TIN of such appraiser, and
‘(F) such additional information
as the Secretary prescribes in such regulations.
‘(5) Qualified appraiser. -
‘(A) In general. - For purposes
of this subsection, the term ‘qualified appraiser’ means an appraiser
qualified to make appraisals of the type of property donated, who
is not -
‘(i) the taxpayer,
‘(ii) a party to the transaction
in which the taxpayer acquired the property,
‘(iii) the donee,
‘(iv) any person employed by
any of the foregoing persons or related to any of the foregoing persons
under section 267(b) of the Internal
Revenue Code of 1986, or
‘(v) to the extent provided
in such regulations, any person whose relationship to the taxpayer
would cause a reasonable person to question the independence of such
appraiser.
‘(B) Appraisal fees. - For purposes
of this subsection, an appraisal shall not be treated as a qualified
appraisal if all or part of the fee paid for such appraisal is based
on a percentage of the appraised value of the property. The preceding
sentence shall not apply to fees based on a sliding scale that are
paid to a generally recognized association regulating appraisers.
‘(6) Other definitions. - For purposes of this
subsection -
‘(A) Closely held corporation.
- The term ‘closely held corporation’ means any corporation (other
than an S corporation) with respect to which the stock ownership requirement
of paragraph (2) of section 542(a) of such Code is met.
‘(B) Personal service corporation.
- The term ‘personal service corporation’ means any corporation (other
than an S corporation) which is a service organization (within the
meaning of section 414(m)(3) of such Code).
‘(C) Publicly traded securities.
- The term ‘publicly traded securities’ means securities for which
(as of the date of the contribution) market quotations are readily
available on an established securities market.
‘(D) Nonpublicly traded stock.
- The term ‘nonpublicly traded stock’ means any stock of a corporation
which is not a publicly traded security.
‘(E) The secretary. - The term
‘Secretary’ means the Secretary of the Treasury or his delegate.'
CHANGE
OF NAME
International
Communication Agency, and Director thereof, redesignated United States
Information Agency, and Director thereof, by section 303 of Pub. L. 97-241, title III, Aug. 24,
1982, 96 Stat. 291, set out as
a note under section 1461 of Title 22, Foreign Relations and Intercourse.
CHARITABLE LEAD TRUSTS AND CHARITABLE REMAINDER
TRUSTS IN CASE OF INCOME AND GIFT TAXES
For includibility of provisions comparable to section
2055(e)(3) of this title in this section, see section 514(b) of Pub. L. 95-600, set out as a note
under section 2055 of this title.
DEDUCTION OF CONTRIBUTIONS TO CERTAIN ORGANIZATIONS
FOR JUDICIAL REFORM
Section 29 of Pub.
L. 87-834, as amended by Pub. L. 99-514, Sec. 2, Oct. 22,
1986, 100 Stat. 2095, provided
that: ‘For purposes of section 170 of the
Internal Revenue Code of 1986 (formerly I.R.C. 1954) (relating to deduction for
charitable, etc., contributions and gifts), a contribution or gift
made after December 31, 1961, with respect to a referendum occurring
during the calendar year 1962 to or for the use of any nonprofit organization
created and operated exclusively -
‘(1) to consider proposals for
the reorganization of the judicial branch of the government of any
State of the United States or political subdivision of such State,
and
‘(2) to provide information,
make recommendations, and seek public support or opposition as to
such proposals, shall be treated as a charitable contribution if no
part of the net earnings of such organization inures to the benefit
of any private shareholder or individual. The provisions of the preceding
sentence shall not apply to any organization which participates in,
or intervenes in, any political campaign on behalf of any candidate
for public office.’
