Gift tax in the United States
If a person is a non-resident alien for purposes of gift tax, taxation of gifts is determined in a different way. If the property is not located in the U.S., there is no gift tax. If it is intangible property, such as shares in U.S. corporations and interests in partnerships or LLCs, there is no gift tax.
Charitable contribution deductions in the United States
A further trap awaits the unwary U.S. investor who donates depreciated assets—assets on which there have been losses in value—to charity. The gift actually forfeit the tax deductibility of the capital losses, and only the depreciated (low) market value at the time of the gift is allowed to be deducted, rather than the higher basis. However an investor can instead sell the depreciated assets before considering a donation. An investor who sells can realize the resultant capital loss, which may then be deducted under the applicable capital loss rules. The cash proceeds after liquidating the depreciated asset may of course be donated to charity and deducted following the sale, but the tax advantages of making such donation are no better or worse than in any cash donation to charity. In any case, such a course leaves the investor more after-tax assets to donate if so inclined.