Hey all,
I purchased a diamond ring for quite a bit of money. Not for myself or personal use, but long story short it no longer has use and it seems I must either donate or sell it for much less than I originally paid for it. I was wondering if anyone had any suggestions to make the best of a bad situation here.
Is there any way a capital loss could be claimed?
Could it be donated for a charitable deduction?
Anything else worth considering?
Thank you in advance for your time and insight
