Q. Are you saying if I bought a card for $1 20 years ago and today it is worth $500, the deduction is limited to $1 if I give it to a church, animal shelter, etc?
A. Yes. Reference: https://www.cpajournal.com/2017/11/13/planning-tax-considerations-collectibles/#:~:text=Contribution....
Q. Why is it different than people who donate their business, land, boat, etc., none of which the charity will use in their operations, but will sell?
A. It depends on the type of asset. A boat (or more commonly a automobile) is treated the same as the baseball card. Land, or stock or mutual funds are capital assets and subject to favorable treatment (if long term). Reference: https://www.fidelitycharitable.org/guidance/charitable-tax-strategies/charitable-contributions.html
