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Deductions & credits
Thanks Tom.
I had followed down the path that you'd described above and then got stopped by the purchase price question. In my case I don't know when it was purchased or what the purchase price was because it was something that I inherited and I have no way of getting that information.
From what I can gather, the deduction IS the value of the donation when I donated it and I don't think the cost basis would matter, would it?
Sorry if I'm being obtuse here; tax law isn't my strong suit.
I had followed down the path that you'd described above and then got stopped by the purchase price question. In my case I don't know when it was purchased or what the purchase price was because it was something that I inherited and I have no way of getting that information.
From what I can gather, the deduction IS the value of the donation when I donated it and I don't think the cost basis would matter, would it?
Sorry if I'm being obtuse here; tax law isn't my strong suit.
‎June 1, 2019
1:26 PM