General rule – the amount of the deduction is determined by the FMV of the property at the time of the contribution.  Reg. Sec. 1.170A-1(c)(1).

1. This amount is reduced by the amount of gain which would not have been long-term capital gain if such property had been sold by the taxpayer at its FMV.  IRC Sec. 170(e)(1)(A).  Note that other than in the case of gain to which one of the listed recapture sections applies, property used in a trade or business is treated as a capital asset for purposes of Sec. 170(e)(1).
2. In the case of a contribution of tangible personal property, if its use by the donee is unrelated to the donee’s exempt purpose, the resulting amount is reduced by the amount of gain that would have been long-term capital gain if such property had been sold by the taxpayer at its FMV.  IRC Sec. 170(e)(1)(B)(i).
3. In the case of a contribution to or for the use of a private foundation (with certain exceptions), the resulting amount is reduced by the amount of gain that would have been long-term capital gain if such property had been sold by the taxpayer at its FMV.  IRC Sec. 170(e)(1)(B)(ii).   Note, however, that such reduction does not apply to any contribution of "qualified appreciated stock" – which is defined as any stock of a corporation (i) for which (as of the date of contribution) market quotations are readily available on an established securities market, and (ii) which is capital gain property, but only to the extent that the amount of stock so contributed (in the aggregate by the donor and his or her family) does not exceed 10% in value of the total outstanding stock of the corporation.  IRC Sec. 170(e)(5).  The scope of the definition of qualified appreciated stock has been examined in several private letter rulings.  See, for example, PLR 9247018 and PLR 9441032 (Rule 144 stock); PLR 200322005 (American Depository Shares); PLR 199925029 (certain mutual fund shares).
4. In the case of a contribution of any patent, copyright, trademark, trade name, trade secret, know-how, software or similar property (with certain exceptions listed in IRC Sec. 170(e)(7)), the resulting amount is reduced by the amount of gain that would have been long-term capital gain if such property had been sold by the taxpayer at its FMV.  IRC Sec. 170(e)(1)(B)(iii).  Note, however, that a donor of such "qualified intellectual property" may deduct, in the year of contribution or in subsequent taxable years, additional amounts based on a percentage of the qualified donee income received by or accrued to the donee with respect to the qualified intellectual property.  IRC Sec. 170(m).