How do I correctly value appreciated property?

If you have held the property for over a year, you can claim the current fair market value.

If you have held the property for less than or equal to a year, DeductionPro uses the lower of either:

• The cost/adjusted basis, or

• The fair market value

For more information on the rules regarding appreciated property, see "Giving Property That Has Increased in Value" in IRS Publication 526.