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Deductions & credits
The cost/adjusted basis is the amount you originally paid for the donated item. It should not be listed as $0 or left blank.
If the item was inherited, the cost basis is the Fair Market Value (FMV) of the item on the date the person who you inherited from died.
Refer to IRS Publication 561, Determining the Value of Donated Property
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‎June 10, 2020
9:18 AM