June 30, 1998, Deadline For Favorable Tax Treatment Of Gifts To Private Foundations Of Qualified Appreciated Stock
This memorandum discusses the income-tax provision permitting full fair market value deductibility of gifts of qualified appreciated stock to private foundations which is about to expire. If the provision is not extended by Congress, private foundation donors will generally be permitted to claim an income-tax deduction only for the cost (or basis) of appreciated publicly traded stock.