Down Market Calls for Different Approach

The usual year-end advice for charitable donors is to make a gift of appreciated stock or mutual fund shares held for more than one year. The donor is entitled to a deduction for the fair market value of the stock while avoiding all capital gains. With markets down significantly from 2021, a better idea might be to sell shares of loss stock and contribute the proceeds to charity. The donor would be entitled to a loss deduction that can offset capital gains and up to $3,000 in other income, with excess losses carried over to future years. If the donor itemizes, a charitable deduction is available for the gift to charity.


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