The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Donating Appreciated Stock||Date: 9/5/2000 7:13 PM|
|Author: TMFTaxes||Number: 39575 of 125216|
<<First ever post to the board. I read the article "Charitable Contributions of Stock -- 07-14-00," and it appeared to conflict with the advice we received from our accountant. He said that it didn't matter whether you had held on to the donated stock for one year, and that at the time of your donation your gift would be measured by the fair market value of the stock. The article states that you only get the full value of the appreciated stock if you have held on for one year.>>
As Phil points out, the article is right on the mark. The stock has to be QUALIFIED appreciated stock. In order for the stock to be qualified, it has to be held for more than one year.
So while you're taking a look at the code section, you might also want to take a look at your accountant. :-)
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