Saturday, May 4, 2024
Specific Property Gifts

4.9.1 Basic Quiz -- Patents
A patent is an invention.
     True      False
A patent gives its owner the right to exclude other people from making, using, offering for sale or selling an invention.
     True      False
A patent owner may give his patent to charity and receive a tax deduction for the gift.
     True      False
A donor may give his patent to charity and get a tax deduction but keep the right to license the patent to others.
     True      False
When donated to charity, the gift of a patent is deductible at its full fair market value.
     True      False
The value of a patent is determined by the United States Patent and Trademark Office.
     True      False
To transfer a patent to charity, a patent owner must deliver to the charity the original patent document issued by the United States Patent and Trademark Office.
     True      False
When a patent is transferred to charity, the transfer document should be recorded with the United States Patent and Trademark Office.
     True      False
A person who owns the right to receive license payments from a patent may give that right to charity.
     True      False
Gifts of patents to charity are usually deductible up to 50% of a donor's adjusted gross income.
     True      False



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