Is TurboTax Deluxe correct that a charitable donation's value is its purchase price? IRS Pub. 526 disagrees.

There are a couple variations. 

You could always provide further details for a more personalized answer. 

 

If the item increased in value, you may need to use the cost. 

To clarify, is the donation something else? 

 

According to IRS Pub 526:

"If you contribute property with a FMV that is more than your basis in it, you may have to reduce the FMV by the amount of appreciation (increase in value) when you figure your deduction. Your basis in property is generally what you paid for it. "

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IRS Pub. 526 indicates the value of a charitable donation is, in general, its fair market value on the date of donation.  In the case of inherited items donated to a qualified charity, the price paid by the doner is zero (or nearly so).  Is the deductible value of all such donated items "zero" or their fair market value on the date of donation?