Source: http://www4.law.cornell.edu/uscode/text/26/170?quicktabs_8=1
Timestamp: 2013-12-10 13:14:57
Document Index: 163361055

Matched Legal Cases: ['§ 170', '§ 170', '§ 301', '§ 542', '§ 542', '§ 6', '§ 309', '§ 6', '§ 2', '§ 2', '§ 1016', '§ 2', '§ 2', '§ 1702012112', '§ 170', '§ 1702012112', '§ 170']

26 USC § 170 - Charitable, etc., contributions and gifts | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
USC › Title 26 › Subtitle A › Chapter 1 › Subchapter B › Part VI › § 170 › prevnext
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
The total deductions under subsection (a) for any taxable year (other than for contributions to which subparagraph (B) applies) shall not exceed 10 percent of the taxpayer’s taxable income.
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
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)
For purposes of this paragraph, a qualified contribution shall mean a charitable contribution of property described in paragraph (1) or (2) of section 1221
Special rule for contributions of book inventory to public schools
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
Special rule for contributions of computer technology and equipment for educational purposes
Qualified computer contribution
Contribution to private foundation
Donations of property reacquired by manufacturer
Special rule relating to construction of property
For purposes of this paragraph, the term “applicable property” means charitable deduction property (as defined in section 6050L
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
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
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
A deduction shall be allowed under subsection (a) in respect of any qualified reformation (within the meaning of section 2055
For purposes of this paragraph, rules similar to the rules of section 2055
Substantiation not required for contributions reported by the donee organization
No deduction shall be allowed under this section for a contribution to an organization which conducts activities to which section 162
Nothing in this section or in section 545
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
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
A deduction otherwise allowed under subsection (a) for any contribution to a donor advised fund (as defined in section 4966
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
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) [2]
The net income taken into account under paragraph (3) shall not exceed the amount of such income reported under section 6050L
(a),Dec. 17, 2010, 124 Stat. 3300, 3316, 3319.)
For termination of amendment by section 304 ofPub. L. 111–312, see Effective and Termination Dates of 2010 Amendment note below.
Subsec. (e)(1). Pub. L. 111–312, §§ 301(a), 304, temporarily amended subsec. (e)(1) to read as if amendment by Pub. L. 107–16, § 542(e)(2)(B), had never been enacted. See 2001 Amendment note and Effective and Termination Dates of 2010 Amendment note below.
2001—Subsec. (e)(1). Pub. L. 107–16, §§ 542(e)(2)(B), 901, temporarily inserted at end “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.” See Effective and Termination Dates of 2001 Amendment note below.
Amendment by section 301(a) ofPub. L. 111–312applicable to estates of decedents dying, and transfers made after Dec. 31, 2009, except as otherwise provided, see section 301(e) ofPub. L. 111–312, set out as a note under section 121 of this title.
Section 901 ofPub. L. 107–16applicable to amendments by section 301(a) ofPub. L. 111–312, see section 304 ofPub. L. 111–312, set out as a note under section 121 of this title.
Section 224(b) ofPub. L. 105–34provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 1997.”
Section 508(e)(2) ofPub. L. 105–34provided that: “The amendments made by subsections (c) and (d) [amending this section and section 2032A of this title] shall apply to easements granted after December 31, 1997.”
Section 602(b) ofPub. L. 105–34provided that: “The amendment made by subsection (a) [amending this section] shall apply to contributions made after May 31, 1997.”
Section 973(b) ofPub. L. 105–34provided that: “The amendment made by subsection (a) [amending this section] shall apply to taxable years beginning after December 31, 1997.”
Section 1206(b) ofPub. L. 104–188provided that: “The amendment made by this section [amending this section] shall apply to contributions made after June 30, 1996.”
Section 1316(f) ofPub. L. 104–188provided that: “The amendments made by this section [amending this section and sections 404, 512, 1042, and 1361 of this title] shall apply to taxable years beginning after December 31, 1997.”
Section 13172(b) ofPub. L. 103–66provided that: “The provisions of this section [amending this section] shall apply to contributions made on or after January 1, 1994.”
Section 6001(b) ofPub. L. 100–647provided that:
Section 10711(c) ofPub. L. 100–203provided 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].”
Section 301(d) ofPub. L. 98–369provided that:
Section 492(d) ofPub. L. 98–369provided 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.”
Section 1031(b) ofPub. L. 98–369provided that: “The amendments made by subsection (a) [amending this section] shall apply to taxable years beginning after December 31, 1984.”
Section 1032(c) ofPub. L. 98–369provided 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) ofPub. L. 98–369provided 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].”
Section 121(d) ofPub. L. 97–34provided 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) ofPub. L. 97–34provided 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) ofPub. L. 97–34provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 1981.”
Section 6(d) ofPub. L. 96–541provided 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.”
Section 402(c)(2) ofPub. L. 95–600provided 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) ofPub. L. 95–600provided that: “The amendment made by paragraph (1) of subsection (c) [amending this section by substituting “28/46” for “621/2 percent”] shall apply to gifts made after December 31, 1978.”
Section 309(b)(1) ofPub. L. 95–30, as amended by Pub. L. 96–541, § 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.”
Section 1052(d) ofPub. L. 94–455provided 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.”
Section 2124(e)(4) ofPub. L. 94–455, as amended by Pub. L. 95–30, title III, § 309(b)(2),May 23, 1977, 91 Stat. 154; Pub. L. 96–541, § 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) ofPub. L. 94–455provided 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.”
Section 201(g) ofPub. L. 91–172, as amended by Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095, provided that:
Section 201(h)(2) ofPub. L. 91–172provided that: “The amendment made by this subsection [amending this section] shall apply to taxable years beginning after December 31, 1968.”
Section 209(f) ofPub. L. 88–272, as amended by Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095, provided that:
Section 2(c) ofPub. L. 87–858provided that: “The amendments made by subsections (a) and (b) [amending this section] shall apply to taxable years beginning after December 31, 1960.”
Section 10(b) ofPub. L. 85–866provided that: “The amendment made by subsection (a) [amending this section] shall apply with respect to taxable years beginning after December 31, 1957.”
Section 12(b) ofPub. L. 85–866provided 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.”
Section 6281 ofPub. L. 100–647provided that: “Notwithstanding paragraph (2) of section 155(a) of the Tax Reform Act of 1984 [section 155(a)(2) ofPub. 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
Section 1608 ofPub. 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, § 1016(b),Nov. 10, 1988, 102 Stat. 3575.
Section 155(a) ofPub. L. 98–369, as amended by Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095, provided that:
Section 29 ofPub. L. 87–834, as amended by Pub. L. 99–514, § 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—
26 USCDescription of ChangeSession YearPublic LawStatutes at Large § 1702012112-240 [Sec.] 314(a)126 Stat. 2330 § 170nt new2012112-240 [Sec.] 314(b)126 Stat. 2330 § 1702012112-240 [Sec.] 206(a), (b)126 Stat. 2324 § 170nt new2012112-240 [Sec.] 206(c)126 Stat. 2324 LII has no control over and does not endorse any external Internet site that contains links to or references LII. U.S. Code Toolbox