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I'm interested in donating stock that I received through exercising employee incentive stock options. I figure that I can meet my charity goals and not get hit with capital gains taxes if I were to sell the stock and donate the proceeds.

Here's what I mean:

1/1/99 - exercised 100 options at a cost of 15cnts/share. (cost=$15)

7/26/99 - give those same 100 shares to church when FMV is $30.00/share. (value=$3000)

So I can now claim a charitable contribution of $3000 and the church gets the full $3000 value since it doesn't have to pay cap gains taxes that I would have had to if I had sold them myself.

Am I missing anything? This seems too easy.

Thanks, gen151
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