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Allowable deduction for inherited stock
In 2020 I made a charitable donation of some stock that I had inherited in late 2019. Inherited stock receives long-term capital gain treatment when sold regardless of how long it was held. Does it get similar treatment if it is donated? That is, even though I held the stock for less than one year, can I deduct the entire FMV on the date of the donation rather than just the cash basis determined on the date that I inherited the stock? Thanks
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‎December 31, 2020
7:39 PM