### Question
Can you define what qualified intellectual property contribution means?


### Answer
**Qualified intellectual property contribution** is defined as the following in *26 U.S.C. § 170*:

> any charitable contribution of qualified intellectual property—


(A) the amount of which taken into account under this section is reduced by reason of subsection (e)(1), and


(B) with respect to which the donor informs the donee at the time of such contribution that the donor intends to treat such contribution as a qualified intellectual property contribution for purposes of this subsection and section 6050L

#### Citation:
  - *26 U.S.C. § 170*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

