Capital Gain Property

About Capital Gain Property:

for charitable contribution purposes, property whose sale at fair market value on the date of the contribution would have resulted in long-term capital gain. Included are capital assets held more than 1 year, as well as certain real and depreciable property used in a trade or business and held more than 1 year. Generally, the fair market value of the capital gain property contributed is allowed as a deduction. In certain situations, however, the fair market value of the contributed property must be reduced to its cost or other basis.

See also other Tax Terms and Definitions in U.S.A.

bargain sale; ordinary income property.

See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.