pk
Level 15
Level 15

Deductions & credits

@Davesilb , while agreeing with my colleague @Opus 17 , just wanted to add that  available deduction for in-kind donations  amount is the lower of the basis  ( cost of acquisition  plus other allowable costs ) and FMV at the time of donation.  There is also AGI based limitations on  charitable contributions recognition for the tax year.   A very good source  is IRS pub 526.