For contributions, bequests, and gifts made after Aug. 17, 2006, the Pension Protection Act of 2006 limits deductions for charitable contributions of fractional interests in tangible personal property. It also provides rules for valuing the donor's additional fractional interest contributions, and provides for recapture of the charitable deduction.In calculating deductions, the PPA requires consistent valuation of all the fractional interests in the same item (or collection of items) of property that has appreciated in value since the initial contribution.
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