The amount of an income tax deduction for the fair market value (FMV) of a charitable contribution of a privately held asset often prompts a disagreement between the taxpayer and the Internal Revenue Service. While arguing may not be unusual when it comes to the topic of FMV, the irony of a charitable contribution is that each side finds itself advocating an opposite position to which it’s accustomed in an estate and gift tax context: What’s the appropriate percentage for a ...

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