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Old 02-04-2014, 10:56 AM
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Charitable Contribution from Property Purchase

I am in Florida and want to purchase a commercial property for my business. The property is being sold is currently a beauty salon. The price of the property is a little high, but that is partially due to the owner selling it with all the contents (fixtures, chairs, sinks, etc.) A couple of questions:

1) If I purchase the property with all its contents can I donate the contents and deduct them?

2) If I purchase the property and the contents separately can I donate the contents and deduct them?

3) If I purchase the contents separately and sell them at a loss, can I deduct the loss?

Any help would be greatly appreciated.



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