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Submitted By: Richard
Answered: May 27, 2014 8:30 am
Answered: May 27, 2014 8:30 am
Can I allow my brother to deduct the noncash donations I made to the Salvation Army because I don’t itemize but he does?
No. It was your property that was donated, so the donation belongs to you. You could have given the items to your brother as a gift and let him make the donations.
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Tax Glossary
Appreciation in value
Increase in value of property due to market conditions. When you sell appreciated property, you pay tax on the appreciation since the date of purchase. When you donate appreciated property held long term, you may generally deduct the appreciated value.
