A bill to modify the restrictions contained in section 170(e) of the Internal Revenue Code in the case of certain contributions of literary, musical, or artistic composition, or similar property.

Summary

Provides, under the Internal Revenue Code, that in the case of a deduction as a charitable contribution by an individual any literary, musical, or artistic composition, or similar property, which was created by the personal efforts of the taxpayer shall not be reduced by the amount of appreciation of such property, and the whole amount of such a charitable contribution shall be taken into account and shall be treated as if the property contributed had been sold at its fair market value. (Amends 26 U.S.C. 170(e))

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1 official file

• Introduced in House

  summary · EN · 3 January 1973

  Open at official source

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