The rules governing charitable contributions of crops, livestock and other items of inventory are relatively well known. For gifts by farm operators and materially participating landlords, the gift does not trigger gain on contribution to the charity; rather, the charitable contribution is limited to the donor’s income tax basis for gifts of grain and other “ordinary income property.” For charitable gifts of grain or raised livestock, the costs of production are deductible as trade or business expenses regardless of whether the contribution occurs in the year of production or a later year. By comparison, for gifts of grain, livestock or other items of inventory to noncharitable donees, it has been assumed that gifts made after the year of production do not require that production expenses associated with the gift be reduced in terms of deductibility.