Deductions & credits

@JulietteMount - it's the market value - the IRS is not going to give you a benefit on stocks that depreciated.

 

Example:

 

I paid 1 million dollars for a stock.   

it depreciated all the way to 1 dollar.

 

the IRS is not going to let me give $1 to a charity and take a $1 million deduction for my personal investment decision.   But the IRS will let me take a $1 deduction for the donation of the stock.