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tomfeller1
I'm not a tax person, so I can't tell you how to best handle the donation. You can keep watching the thread and will likely get comments from tax-oriented folks. But to be deductible it has to be an IRS-approved organization. The fact that an organization is "non-profit" is not enough. So you need to do some homework to see that the organization meets the IRS criteria.
"Qualified organizations.
"Qualified organizations include nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals."
"How to check whether an organization can receive deductible charitable contributions.
"You can ask any organization whether it is a qualified organization, and most will be able to tell you. You also can check by going to IRS.gov/TEOS. This online tool will enable you to search for qualified organizations."
For a lot of info on donations, see this IRS publication:
IRS Pub. 526--Charitable Contributions
https://www.irs.gov/publications/p526
if the non profit is a 501(c)(3) then you will need to file form 823 to take deduction. if these are publicly traded securities, no appraisal is required. if these are stocks(s) from private companies you will need a certified appraisal
anyway if these are
Capital gain property - property that would result in long-term capital gain if it
were sold at its FMV on the date it was contributed.
You usually may deduct gifts of capital gain property at
their FMV. However, you must reduce the FMV by the
amount of any appreciation if any of the following apply:
* The capital gain property is contributed to certain
private nonoperating foundations. This rule does not apply
to qualified appreciated stock.
* You choose the 50% of adjusted gross income limit instead of the special 30%
limit for capital gain property. (in other words if you use the 30% option you will need adjusted gross income of $550,000 to get the full deduction in the year of donation. if you use the 50% option, you only get a deduction for your basis in the stock.
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