itonewbie
Level 15
05-15-2020
11:02 AM
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Also, if you read the construct of §170, particularly the subsections cited above, there would have been no need for reference to capital gain properties or adjustments for what would otherwise be short or long term capital gains if the donor would have to recognize income because the taxpayer would then have full basis and could deduct the entire FMV.
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Still an AllStar
Still an AllStar