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@rbynaker wrote:

Interesting situation.  What is the owner's tax basis in the voucher?

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I agree with Rick.  This is the key point.

Did the owner (or somebody else) pay for this?  Or was it won as a prize and tax paid on it?  If so, it as Basis and is just like cash.

Or was it a free 'coupon'/voucher that has no Basis?  If that is the case, it is just a discount, and $80 is the deduction.