American Jobs Creation Act of 2004 Form 8899

Regulation Reference Cite 26 U.S.C. § 170
Level Compliance Report
Oversight Unit NMU FOUNDATION
Person Responsible TBD
Secondary Person Responsible TBD
President / VP Level President
Description

  • For contributions of patents and certain other intellectual property made to a 501(c)(3) after June 3, 2004 the taxpayer's initial contribution deduction is limited to the lesser of the donor's basis in the contributed property or the fair market value of the property.

Due Date: The institution is expected to file Form 8899 (Notice of Income from Donated Intellectual Property) by the last day of the first full month following the close of the institution's taxable year to which the net income from the contribution is properly allocable.

Contacts and Data Sources

TBD
Internal Notes

This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information