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Author: jkrou Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120794  
Subject: Re: Easiest way to give away appreciated stock Date: 10/14/2000 11:16 PM
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Vol,

Even if you started a non-profit as you describe, deposit the stock into the new account and then sell. Your non-profit will now owe gains taxes and I do not think that this is what you are trying to accomplish because the non-profit will now have less money to give out to the charities, plus taxes to pay. And, in some states you will still owe franchise taxes....and the inevitable IRS will want their share too unless you can qualify as a 501(c) organization.

It is better all around to get the certificates issued to you and you pass them on to the charity of your choice. Even then, only charities that qualify as 501(c) entities can give you the tax benefit you are looking for.

Jenn
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