A bill to amend the Internal Revenue Code of 1954 to provide that no reduction will be made in the amount of the charitable deduction in the case of certain contributions of appreciated capital assets which do not meet the holding period requirement for long-term capital gains.

referredUnited States· United States Congress· EN

Introduced

4 January 1977

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Repeals the Internal Revenue Code requirement that the allowable charitable deduction for donated capital assets be reduced by that portion of the asset's value which would qualify as short term capital gains in a sale transaction. Applies only to contributions of property other than tangible personal property.

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Documents

1 official file

Introduced in House
summary · EN · 4 January 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/699
Open data entity: https://api.congress.gov/v3/bill/95/hr/699