What is capital gain property for deductions?

Capital gain property is property on which you would have recognized a long-term capital gain had you sold it at fair market value on the date of the contribution. Capital gain property includes capital assets held for more than 1 year, real property, and depreciable property.

• Capital assets include most items of property that you own and use for personal purposes or investment, such as: stocks, bonds, jewelry, coin or stamp collections, cars, or furniture.
• Real property is land and anything built on, growing on, or attached to land.
• Depreciable property is property used in a business or held for the production of income and for which a depreciation deduction is allowed.