Catherine Posted February 21, 2015 Report Share Posted February 21, 2015 Two clients have brought me this one this year. Any surprises I need to watch out for in donations of appreciated stock to charities? How about if it was bought through an ESPP plan? Or other employer purchase devices? Thanks! Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 21, 2015 Author Report Share Posted February 21, 2015 bump -- still hoping for some words of wisdom and/or warning Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 21, 2015 Report Share Posted February 21, 2015 I've had several clients donate appreciated P&G stock over the years, most of which was part of the company stock purchase plans. They have provided me with the basis, I look up FMV date of gift, list on 8283. So far, knock wood, no surprises.Well, one surprise. A couple of years ago one gift had a lower FMV than the basis. I advised her that she look at the value in the future, realize losses first, if any, than donate. She never imagined it would happen. 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 21, 2015 Author Report Share Posted February 21, 2015 Thanks, Margaret! Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 21, 2015 Report Share Posted February 21, 2015 For stock, the official holding period has to be more than one year, otherwise it's ordinary income property with deduction limited to basis. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.