Which one of the following is an incorrect statement about the gift tax charitable deduction?

A gift of a partial interest will qualify for a charitable deduction only if it meets the requirements of the Internal Revenue Code and IRS regulations.

The charitable gift tax deduction is limited by the type of property gifted, the type of charitable donee, and the donor's adjusted gross income (AGI).

To qualify for a gift tax charitable deduction, a gift must be of cash or property.

A charitable gift tax deduction is given only for the portion of the contribution in excess of any value the donor receives from the donee charity.