Well, they’re ultrawealthy Americans, and they’re Americans first and politicians second, right? The wealthier Congress is, the harder they will fight to keep

Well, they’re ultrawealthy Americans, and they’re Americans first and politicians second, right? The wealthier Congress is, the harder they will fight to keep these perks. I feel as though I ought to be familiar with the tax treatments involved, hasn’t broken my way yet. When you charitably contribute money, it’s not counted when you obtained the money (past savings, perhaps) or from what source (gains, carried interest vs regular income). So if you make 1MM in income and donate 1MM, you net out zero. That’s the code. Now suppose you have stock that’s appreciated from a $100K basis to $1MM, and instead of donating 1MM cash you donate that stock. Do you get a deduction of the $900K gain, of the full 1MM, or either 100K or zero because you never yourself realized the gain?