Exception: Basis Rule for Private Charities
{"Image DocumentName": "Exception: Basis Rule for Private Charities", "Image ImageDescription": "Types of Property. Exception: Basis Rule for Private Charities. Gifts of qualified appreciated stock valued at FMV rather than basis. Traded on exchange. Capital gain property. Still limited to 20% of AGI. There is an exception to the basis limitation for gifts of appreciated property to a private charity. Gifts to a private charity of qualified stock are valued at fair market value rather than cost basis. Qualified stock is defined as long term capital gain stock for which market quotations are readily available on an established securities market. However, even though the donor may deduct the fair market value of the stock, the income tax deduction will still be limited to 20% of the donor\u2019s AGI. For Producer or Broker/Dealer Use Only. Not For Public Distribution.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}