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Deductions & credits
Yes, the reason is holding period and it can make a difference on your charitable donation deduction depending on other contributions. TurboTax will calculate the appropriate donation if you answer the questions.
Capital gain property exception. (applies to inherited property)
A 30% limit applies to noncash contributions of capital gain property if you figure your deduction using FMV without reduction for appreciation. See Certain capital gain property contributions to 50% limit organizations, later, under Limits based on 30% of AGI, for more information.
- IRS Publication 526 (for more details)
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March 24, 2025
9:49 AM