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. |