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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: JBird77777 who wrote (84120)12/7/1998 5:54:00 PM
From: SecularBull  Respond to of 176387
 
>Incidentally, when donating stock, for tax purposes I don't think it matters how long you have held it. I think that the donor gets a charitable deduction for the fair market value of the stock, and pays no taxes on the unrealized gain (if any).<

Correct!

LoD



To: JBird77777 who wrote (84120)12/7/1998 6:59:00 PM
From: Dell-icious  Respond to of 176387
 

Thanks for the response. I do believe though that the period does matter (read it in a few places like thestreet.com), and that you have to hold it for a year to get the full benefit without capital gains. Will check into it though.
Dell-icious



To: JBird77777 who wrote (84120)12/7/1998 7:56:00 PM
From: Dell-icious  Respond to of 176387
 
I just checked IRS Pub 526 (you can get it over the web at the IRS site), and it does make the distinction of property held short-term (1 year or less) and long term. In the former, you can only deduct the basis (price you paid to acquire the stock), and only in the long term case can you deduct the market value. (and thus not have to pay any capital gains).
Dell-icious


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