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posted Feb 23, 2022 1:05:50 PM

Am I being taxed on my charitable donation of appreciated stock (shown on 1099-B) if I am taking the standard donation? Also, Fidelity DAF Form 8283 shows no cost basis?

I was surprised the donated stock showed up on the 1099-B so it seems the benefit is only when itemized deductions exceed the standard deduction.

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1 Best answer
Level 15
Feb 23, 2022 2:08:16 PM

I'd call Fidelity and ask about that.

______________________

I donated appreciated mutual fund shares, and that wasn't on my 1099-B that showed other stuff actually sold.

I initiated that transfer from within my account in the Fidelity Charitable Gift Fund itself, so if you did it a different way, I'm not sure what happens.

 

My Fidelity Gift Fund 8283 doesn't show the basis either.....it may not do so because it may not know the exact basis procedure you are using to value the original basis of the contribution ....could be FIFO, Average, or LIFO...but then, my shares were acquired long before Brokerages were required to track and report basis, so I've always had to provide that myself.

1 Replies
Level 15
Feb 23, 2022 2:08:16 PM

I'd call Fidelity and ask about that.

______________________

I donated appreciated mutual fund shares, and that wasn't on my 1099-B that showed other stuff actually sold.

I initiated that transfer from within my account in the Fidelity Charitable Gift Fund itself, so if you did it a different way, I'm not sure what happens.

 

My Fidelity Gift Fund 8283 doesn't show the basis either.....it may not do so because it may not know the exact basis procedure you are using to value the original basis of the contribution ....could be FIFO, Average, or LIFO...but then, my shares were acquired long before Brokerages were required to track and report basis, so I've always had to provide that myself.