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Originally Posted by wtm442
Do not forget that the sell price minus the list price (about $450K) will be deducted from his Schedule C on 1040 as a charitable donation.
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But, depending upon his tax bracket, he may not be able to claim the full charitable amount, as the more you make, the less, i.e., lower percentage of the full amount can be written off on schedule C. i.e. Screw job again.