The Congressional Research Service released a report examining four of the temporary charitable tax deduction provisions that are expired or expiring, and being considered for renewal in the 113th Congress. The tax provisions being discussed are the enhanced charitable deduction for food inventory donations, tax-free distributions from individual retirement accounts (IRA) for charity, basis adjustment to stock of S corporations making charitable contributions of property, and special rules for contributions of capital gain real property for conservation purposes.

See Jane G. Gravelle and Molly F. Sherlock, “CRS Examines 4 Recently Expired Charitable Tax Provisions,” 2014 Tax Notes Today 204-17 (October 17, 2014).

Posted by Jin Keol Park, Associate Editor, Wealth Strategies Journal