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Deductions & credits
Looking at Form 8283 Part 1, the second section, col (g) asks for cost or adjusted basis. However, there is a note that if the claimed deduction for "...an item is $500 or less, you do not have to complete columns (e), (f), (g)."
Does that mean less than $500 per book or the entire collection of books? I already have a running total "current value" nearing $3,000.
Does that mean less than $500 per book or the entire collection of books? I already have a running total "current value" nearing $3,000.
‎June 1, 2019
9:58 AM