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The term “tangible personal property” includes paintings and art objects not produced by the donor. If you would like to read the full article, you can click the link below to download a PDF version of Ralph E. Lerner’s complete article. Valuation and Tax Issues The post Valuation and Tax Issues appeared first on Ralph E Lerner.
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For example, a painting that cost the donor $1,000 some years ago may have a fair market value of $10,000 today. A contribution today of the painting to charity that meets all the requirements discussed below produces an allowable charitable deduction of $10,000. For someone in the 35.0 Lerner’s complete article.
For example, a painting that cost the donor $1,000 some years ago may have a fair market value of $10,000 today. A contribution today of the painting to charity that meets all the requirements discussed below produces an allowable charitable deduction of $10,000. For someone in the 35.0 Lerner’s complete article.
This way, if the original photographs are damaged or lost, you at least still have the digital version that can be accessed and downloaded later from a cloud location that isn't reliant on your house still standing.
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