No FMV deduction for digitized family records

The Minnesota Tax Court has denied a full fair market value charitable contribution deduction for the gift of a digitized collection of family vital records to the Luxembourg America Cultural Society in Wisconsin. The Court has agreed with the state Commissioner of Revenue that the collection was ordinary income property and not capital gain property.

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IRS Form 990: Public Relations Opportunity or Trap for the Unwary?

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No FMV deduction for digitized family records

No FMV deduction for digitized family records