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Get your taxes done using TurboTax
DavidEH,
There is an edge case of contributions to a private nonoperating foundation where the tax basis is needed.
But the tax basis is never needed for "qualified appreciated stock" which is defined as
" ... any stock in a corporation that is capital gain property and for which market quotations are readily available on an established securities market on the day of the contribution. But stock in a corporation doesn't count as qualified appreciated stock to the extent you and your family contributed more than 10% of the value of all the outstanding stock in the corporation."
So you are almost surely welcome to ignore that basis question.
March 14, 2023
7:27 PM