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April 1, 2025
Question

What is the "cost or adjusted basis in the donated property"?

  • April 1, 2025
  • 1 reply
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1 reply

AmyC
April 1, 2025

For basic stuff around your house, clothing, dishes, basics - it is what you paid.  

Advanced: If you are donating appreciated stocks, art work, vehicles, or more complicated things you need to see

Publication 551 (12/2022), Basis of Assets - IRS

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