Contents

§ 4.7 VARIATIONS IN APPLYING PROPERTY RULESEXAMPLE 4.9On July 1, 2005, C, an individual, made the following charitable contributions, all of whichwere to a public charitable organization, PC, except in the case of nonqualified appreciatedstock to a private foundation, PF:Fair MarketValueAdjustedBasisRecognizedGain if SoldPropertyOrdinary income property $50,000 $35,000 $15,000Property that, if sold, would produce long-termcapital gain(1) Stock that is a capital asset, contributed to(i) PC(ii) PF25,00015,00021,00010,0004,0005,000(2) Tangible personal property that is acapital asset, put to unrelated use by PC 12,000 6,000 6,000Total $102,000 $72,000 $30,000EXAMPLE 4.10After making the necessary reductions required by the above rules, the amount of charitablecontributions allowed (before application of the general percentage limitations a ) was asfollows:Fair MarketValueaSee Chapter 7.bThis example is based on Reg. § 1.170A-4(d), Examples (1)(a) and (b).ContributionAllowedPropertyReductionOrdinary income property $50,000 $15,000 $35,000Property that, if sold, would produce long-termcapital gainEXAMPLE 4.11This example is based on the facts in Example 4.10, except that C is a corporation. The amountof charitable contributions allowed (before application of the general percentage limitations)would have been as follows: 137 Fair MarketValueContributionAllowedPropertyReductionOrdinary income property $50,000 $15,000 $35,000Property that, if sold, would produce long-termcapital gain(1) Stock contributed to(i) PC(ii) PF25,00015,000-0-5,00025,00010,000(2) Tangible personal property 12,000 6,000 6,000Total $102,000 $26,000 $76,000 b(1) Stock contributed to(i) PC(ii) PF25,00015,000-0-5,00025,00010,000(2) Tangible personal property 12,000 6,000 6,000Total $102,000 $26,000 $76,000 aaThis example is based on Reg. § 1.170A-4(d), Example (1)(c).