Abstract
Traditionally, a taxpayer who donates intellectual property ("IP") to charity can claim an income tax charitable deduction equal to the fair market value of the IP. In the summer of 2003, the Senate passed a bill to restrict the amount of the deduction to the donor's tax basis in the IP contributed. Many modified versions were introduced, and a hybrid proposal was enacted in 2004. However, this Article considers the primary issue-whether the donor of IP should be entitled to a fair market value deduction-which is best considered by an analysis of the Senate Proposal (the "Senate Proposal"). The Senate Proposal would apply to charitable donations of "any patent, copyright, ...trade secret, .. . software, or similar property."
Recommended Citation
Drennan, William A.
(2004)
"Charitable Donations of Intellectual Property: The Case for Retaining the Fair Market Value Tax Deduction,"
Utah Law Review: Vol. 2004:
No.
4, Article 6.
Available at:
https://dc.law.utah.edu/ulr/vol2004/iss4/6