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My parents are elderly and wish to donate their house to their church. Can the fair market value of this house be deducted on Schedule A as a charitable donation? Can the total amount be deducted in one tax year, or is there a cap, and the remainder carried over to next year? And along that same line, can the ESTATE of a taxpayer donate a house to a charitable organization and take the entire fair market value as a donation on Schedule A? Any help will be appreciated. Thanx.
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