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Gifts of Closely-Held Stock

If you contribute closely-held stock, you are allowed an income tax charitable contribution deduction for the fair market value of the stock. You also will avoid the potential capital gains tax on any appreciation in the value of the stock. At a later date, the corporation may offer to purchase the stock from Carolina for cash. As long as Carolina is not legally obligated to sell the stock to the corporation, the transaction should produce no adverse tax results.

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