Hal_Al
Level 15

Deductions & credits

You should  not get a 1099-B if you donated the stock directly to charity. Your broker has made a mistake (this happened to me once). They should correct it. However, if you sold the stocks and then gave the money to charity, you should get a 1099-B and have to report the sale and gains. Also, you would not be allowed to deduct FMV.

Also be advised that for stocks, donated to charity, that you held less than one year (short term), you do not get to deduct FMV, if FMV is more than you paid. You deduct the lesser of FMV or your cost basis.