The tax basis for the donated album cover art is $25,000 and has been owned by Warner and Augustine for five years.

line 12 of Schedule A what is it

Mr. and Mrs. Warner and Augustine Robins 638 Russell Parkway Macon, GA 31207 Dear Mr. and Mrs. Robins: Thank you for your contribution of the original album cover art for the Almond Sisters Band to the Macon Museum of Arts. This gift supports the Macon Museum's efforts to bring original and locally-sourced art work to Macon. This continuing support will guarantee our ability to display Almond Sister art work for many years to come. We have attached a copy of the appraiser's market valuation. Her analysis estimates the value of the painting at $54,000. Please keep this written acknowledgement of your donation for your tax records. As a token of our appreciation for your support, we have mailed you the Macon Museum tote bag. We estimate the value of the tote bag to be $25. We are required to inform you that your federal income tax deduction for your contribution is the amount of your contribution less the value of the tote b. Thank you for your continuing support for our important work in this field! Please retain this letter as proof of your charitable contribution. Sincerely, 12 Other than by cash or check. If you made any gift of $250 or more, see instructions. You must attach Form 8283 if over $500