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Get your taxes done using TurboTax
Yes, you can take a deduction for donating items that you inherited. You can just estimate the amount the items cost and you can answer that you owned them more than one year. Your actual deduction will be based on their fair market value, which is the price a stranger would pay for them at a thrift shop.
These questions may seem odd, but they are based on the rules for valuing donations of items.
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‎April 11, 2024
12:52 PM
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