If I purchased an item of clothing for $1,000.00 and claim $100.00 is my cost/basis?

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If I purchased an item of clothing for $1,000.00 and claim $100.00 is my cost/basis?

It is not (at all) clear why you would want to do that but the general rule is that your basis in the property is the cost of that property.

See https://www.law.cornell.edu/uscode/text/26/1012

If I purchased an item of clothing for $1,000.00 and claim $100.00 is my cost/basis?

Are you donating this item? Or did you purchase it for $1,000 at s charity auction (for example)?

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