A bill relating to the income-tax treatment of charitable contributions of inventory and certain other ordinary income property.

Summary

Provides that the tax deduction under the Internal Revenue Code for charitable contributions of medical, surgical, or hospital supplies that is ordinary income property of the donor shall be reduced by only one-half of the amount of gain which would have been realized if the property contributed had been sold at its fair market value if the donee uses the property for a function related to its basis for tax exempt status.

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Documents

1 official file

• Introduced in House

  summary · EN · 20 January 1975

  Open at official source

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