May 2, 2002
Unusual Gifts: Donors Need to Be Mindful of Tax Rules
To the Editor:
Your article on unusual gifts ("Treasure Trove or Trash Bin?," April 4) omits discussion of a key issue.
If a donor contributes personal property to a public charity, he or she may deduct the fair market value of a donated object only if it would produce long-term capital gain if sold by that individual.
Fair market–value deduction is also limited by two significant requirements: (1) if the donor
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