The American Jobs Creation Act also tightened rules for charitable contributions of vehicles and patents. As David T. Leibell and Daniel L. Daniels of Cummings & Lockwood LLC in Stamford, Conn., report: Buried in the 600 pages of the act are two provisions that limit charitable deductions for gifts of vehicles and patents. These provisions aim to curb abuses regarding over-inflated deductions for these kinds of gifts.
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