applicable property
Defined in 1 place of the United States Code.
For purposes of this paragraph, the term “applicable property” means charitable deduction property (as defined in section 6050L(a)(2)(A))—
(i) which is tangible personal property the use of which is identified by the donee as related to the purpose or function constituting the basis of the donee's exemption under section 501, and
(ii) for which a deduction in excess of the donor's basis is allowed.
Source
- 2006–present26 U.S.C. § 170Internal Revenue Code · Charitable, etc., contributions and gifts · under this section