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If you donate money to a charity, you get to deduct that from your income for determining your tax obligation. If you have long term capital gains on a stock,
by jon_richards 8y ago
If you donate money to a charity, you get to deduct that from your income for determining your tax obligation.
If you have long term capital gains on a stock, you can donate that stock and not pay tax on the long term capital gains. Additionally, the full value of the stock counts against your income for determining tax.
This type of nonsense is all over our tax code.