Treatment of donations of appreciated stock to a IRC §501(c)(7) Social Club?
What differences or special considerations are there in IRS tax handling of bequests made to a §501(c)(7) social club, compared to the same bequest made to a private party or a §501(c)(3)
In particular how is a donation of appreciated stock handled, and what basis would apply to the stock?
I am aware of www.irs.gov/Charities-&-Non-Profits/Other-Non-Profits/Guidelines-for-Tax-Exempt-Social-Clubs-Internal-Revenue-Manual
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If cash donations are not deductable, stock contributions aren't either and I believe the same rules apply as for a private party.
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