To amend the Internal Revenue Code of 1986 to increase the limitation on the amount of charitable contributions of ordinary income property taken into account in determining the charitable contribution deduction for any trade or business.
Charitable Contribution Parity and Enhancement Act - Amends the Internal Revenue Code to extend the tax deduction for charitable contributions of ordinary income property to all trades and businesses (currently limited to corrporations other than S corporations). Limits the amount of such deduction for taxpayers other than C corporations to not more than 10% of their aggregate net income for a taxable year from all trades or businesses.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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