jrcutsforth-cfu net12
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12-07-2019
01:59 AM
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George4Tacks
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12-07-2019
01:59 AM
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Just go two entry points below the entry for FMV - "Contribution deduction (default to FMV) [O]" and enter the cost
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jrcutsforth-cfu net12
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12-07-2019
01:59 AM
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I did this and it will not override the FMV amount. It only works when I leave the FMV blank and then it does not show on the form??? Thanks for your response.
George4Tacks
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12-07-2019
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@jrcutsforth What type of property is being donated? Appreciated stock?
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Answers are easy. Questions are hard!
George4Tacks
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12-07-2019
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@jrcutsforth It does work, you need to look at what ends up on Schedule A
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Answers are easy. Questions are hard!
jrcutsforth-cfu net12
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12-07-2019
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I did look and the FMV ends up on Schedule A, not the basis. It is cairn piece that he created and it has increased enormously over his cost he has in it.
George4Tacks
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12-07-2019
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Hmm? Cairn piece is fairly new to my vocabulary. I assume ordinary income if it were sold, so cost is the correct number to use.
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Answers are easy. Questions are hard!
jrcutsforth-cfu net12
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12-07-2019
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That is what I am trying to use....but I cannot override the FMV figure, why doesn't LaCerte let me do it?