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Just needing confirmation that I am reporting Transfer of Stock to a Charitable Organization correctly. I am reporting it on Form 8283 Part One. And is it also correct that it is only deductible up to 30% of AGI?
Thank you!
Yes; yes but reference the link below to see how it may apply to your scenario, in case your scenario may contain more info. than in your post: (Also, click on the points at the bottom of the article.)
Is this a private corporate stock or a publicly traded stock? If private, then if FMV goes above the threshold, it requires an official appraisal attached to the Form 8283.
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