I donated 50 Shares of stock to a church but the transaction is not on the tax information statement from the payer

hailadjuster — Tue, 04 Jun 2019 19:47:39 GMT

There is a long term capital gain on this stock. do I need to report it?

You do not report the sale of the stock. This is a great...

MichaelL1 — Tue, 04 Jun 2019 19:47:41 GMT

You do not report the sale of the stock. This is a great tax benefit to you. You get to deduct the Fair Market Value of the gift of the stock at the time the gift was made.

If its value has increased over time, it’s better to donate the stock. If you’ve owned the stock for more than a year, you get to take the current value as a charitable deduction if you itemize and you don’t have to pay tax on the appreciation (you’d owe capital-gains tax on the profit if you sold the stock first and then wrote a check).

Take a look at this link for a detailed explanation and look at the section titled Benefits:

https://www.mystockoptions.com/faq/index.cfm/catID/5A5E2B2B-07F0-4E14-9C1C838BB003BE7E/objectID/D943...

topic I donated 50 Shares of stock to a church but the transaction is not on the tax information statement from the payer in Deductions & credits

I donated 50 Shares of stock to a church but the transaction is not on the tax information statement from the payer

You do not report the sale of the stock. This is a great...