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Deductions & credits
The markup on a diamond is very high. You lose about half the value when you take it out of the jewelry store. It is not an investment. You best bet of recouping some of your money is to try to sell it online. Someone might love it enough to pay you more than a local pawn shop or jewelry store.
As already stated, there is no tax benefit to donating it.
‎October 24, 2021
6:18 AM