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Deductions & credits
When non-cash donations are made, usually the FMV is used because this is usually lower than the cost of the donation. I assume your FMV of the stocks are higher but unfortunately, if the amount you originally paid for the item is less than the FMV, you must use the original cost of the item.
The IRS does not make distinctions between different property classes.
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‎April 18, 2023
4:53 PM