First, people and businesses making stock contributions, rather than cash, may still be able to profit from their donations through avoidance of capital gains taxes. A fix suggested by the Institute on Taxation and Economic Policy is to require taxpayers to pay capital gains tax if they receive a large state tax credit as compensation for their gift of stock or property to a private school.
July 7, 2019
Daily Progress: Opinion/Commentary: New IRS Rule Narrows Tax Loophole in Virginia
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