If Donated Appreciated Capital Gain Property Is Put to a Use

question 2

True/False

If donated appreciated capital gain property is put to a use that is unrelated to the purpose or function of a charity's tax-exempt status,the contribution must be reduced by the amount of any long-term capital gain that would have been realized if the property had been sold at its fair market value at the time of the contribution.

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Definitions:

Optic Disc

The region in the eye where nerve fibers from the retina converge to form the optic nerve, leading to a natural blind spot.

Blind Spot

Retinal region where axons forming the optic nerve leave the eye and where blood vessels enter and leave; has no photoreceptors and is thus said to be blind.

Iris

The iris is the colored part of the eye that surrounds the pupil and controls the amount of light entering the eye by adjusting the size of the pupil.

Amacrine Cells

Specialized cells in the retina that connect bipolar cells to ganglion cells and are involved in the integration and processing of visual information.