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I found the answer to the car question---you must deduct only fair market value of the car.

Well, this is the fun about tax law. The rules change January 1. For donations after 2004 the deduction will be limited to the amount the charity gets when it sells the car if the car is not used directly in the charity's work.

As for short-term capital gains, there's no fixed rate. The gain is ordinary income and gets lumped with all your other income. IOW, it's taxed no differently than wages (except there's no FICA/Medicare).

One never knows what Congress will do, but I doubt that they will further lower the rate on long-term gains.

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