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Can I deduct loss of basis for charitable donation?
If the basis of donated property to a Charity is more than the appraised value, can this be deducted elsewhere? Ex, paid $15,000 for antiques 10 yrs ago, donated to museum and reported appraised value of $10,000. Can the $5000 of lost basis be deducted?
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March 25, 2023
2:39 PM