Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Marc Schiler who wrote (2190)	5/8/1999 12:26:00 PM
From: Colin Cody	Read Replies (2) of 5810

old fashioned and wrong! (g) Rather than a trader giving some MONEY, Hold onto some of say, your EBAY stock rather than flip all of it off. Wait one year and then give that STOCK to the Charity: You still get the charitable deduction (for the stock's value on the day the donation is made), and you will ALSO reduce your gross income at the same time, because you never SOLD the shares. With a stock like EBAY you can actually save more in TAXES than you paid for the stock to begin with! (The stock used must not be "marked-to-market" stock)

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