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Deductions & credits
when you inherit items your cost basis is the FMV at time of death. If it's gifted to you it is lower of donors cost or FMV at time of gift. So if you recently got the items and donated them, your cost and the amount donated would be fairly close.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎June 4, 2019
5:43 PM