Here's my questions, one about donating cars, and one about tax rates from selling stock:1.I have two cars that I bought this past Spring for about $2500 each, plus I have put in another $1000 or so to keep them running, so total I have about $6k in these cars. I am going to sell them, but will be lucky to get $3500-$4000 for both of them, leaving me at a $2000 loss for these cars.If I donate them to charity, can I claim a $6000 donation? If so, when I do my taxes, I would deduct $6000 from my earnings, right? But then how much money would I save for taxes?I wouldn't save $4000 in taxes would I? If not, it's financially better for me to just sell the cars, right?2. When I hold my stock for less than a year, is the tax rate on the gains 35%? What about if I hold for more than a year? Is it 15%? Is there any talk about the investment tax rate being reduced more? I read the FAQ, but the tax rate articles are a couple years old.
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