['Retirement Benefits']
['Pension Protection Act (PPA)']
05/18/2022
Copyright 2025 J. J. Keller & Associate, Inc. For re-use options please contact copyright@jjkeller.com or call 800-558-5011.
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Pension Protection Act of 2006
Title XII Provisions Relating to Exempt Organizations
Subtitle B Reforming Exempt Organizations
Part 1 General Reforms
(a) IN GENERAL.-Subsection (f) of section 170, as amended by this Act, is amended by adding at the end the following new paragraph:
"(16) CONTRIBUTIONS OF CLOTHING AND HOUSEHOLD ITEMS.-
"(A) IN GENERAL.-In the case of an individual, partnership, or corporation, no deduction shall be allowed under subsection (a) for any contribution of clothing or a household item unless such clothing or household item is in good used condition or better.
"(B) ITEMS OF MINIMAL VALUE.-Notwithstanding subparagraph (A), the Secretary may by regulation deny a deduction under subsection (a) for any contribution of clothing or a household item which has minimal monetary value.
"(C) EXCEPTION FOR CERTAIN PROPERTY.-Subparagraphs (A) and (B) shall not apply to any contribution of a single item of clothing or a household item for which a deduction of more than $500 is claimed if the taxpayer includes with the taxpayer's return a qualified appraisal with respect to the property.
"(D) HOUSEHOLD ITEMS.-For purposes of this paragraph-
"(i) IN GENERAL.-The term 'household items' includes furniture, furnishings, electronics, appliances, linens, and other similar items.
"(ii) EXCLUDED ITEMS.-Such term does not include-
"(I) food,
"(II) paintings, antiques, and other objects of art,
"(III) jewelry and gems, and
"(IV) collections.
"(E) SPECIAL RULE FOR PASS-THRU ENTITIES.-In the case of a partnership or S corporation, this paragraph shall be applied at the entity level, except that the deduction shall be denied at the partner or shareholder level.".
(b) EFFECTIVE DATE.-The amendment made by this section shall apply to contributions made after the date of enactment of this Act.
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