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What Special Rules Apply to a Gift of Tangible Personal Property, Real Estate Or Securities Held Short-Term?

April 26, 2017gift held Property Real Estate rules securities special Tangible

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What Special Rules Apply to a Gift of Tangible Personal Property, Real Estate Or Securities Held Short-Term?

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A gift of tangible personal property, real estate or securities held short-term is valued for income tax deduction purposes at its cost basis.[61] The ceiling on deductibility is 50%/30% of AGI,[62] depending on the nature of the donee.