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April 9, 2024
Question

Donating a stock to charity with loss

  • April 9, 2024
  • 1 reply
  • 0 views

Hello,

 

I donated a stock with loss to charity but hold it for less than one year.

What value I can deduct from my taxes and is that good or bad?

 

For Example, the stock cost basis was 150 and I hold it for less than a year and donated it while the value is 120

What value I can deduct from my taxes and is that good or bad?

Thanks alot

    1 reply

    April 9, 2024

    The deduction will be limited to either the current market value of the stock or what you originally paid for it, whichever is less.