In general, taxpayers are allowed to deduct the fair market value of long-term capital gain property on the date of the donation to a qualified charitable organization.

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This is true. Taxpayers can deduct the fair market value of long-term capital gain property on the date of the donation to a qualified charitable organization on their tax returns. It is important to note that there are specific rules and limitations for charitable contribution deductions, and taxpayers should consult with a tax professional for guidance.

In General, Taxpayers Are Allowed to Deduct the Fair Market