What is capital gain property for charitable contributions?
Updated: 1/16/2013
Article ID: IAS10270
Property is capital gain property if its sale at fair market value on the date of the contribution would have resulted in a long-term capital gain. Capital gain property includes capital assets held more than one year. Capital assets include stocks, bonds, jewelry, coin or stamp collections and cars or furniture used for personal purposes. Certain real property and depreciable property used in a trade or business may also be capital assets.