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In response to
"Technically no because you have no basis in the item. -- nm"
by
spamlet
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You can have a basis in property even if it was given to you as a gift, I thought. The basis would be what the original owner paid. -- (edited)
Posted by
znufrii
Sep 21 '21, 13:26
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And even then it only matters for deductions if the property in question has appreciated in value. (Yes I’m reading Pub. 526 right now, shutup)
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Responses:
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