What is this and can I exhaust out of it?

The correct way to find out if they are linked is to somehow temporary cap the top of the stack or pipe. Remove the cap from the original pipe. Put a smoke pellet inside of the stove. The pipe and stack will fill up with white smoke. If they are indeed linked together with the stack filling with smoke the said smoke will exit through the pipe you intend to vent out of back into the basement

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