Comment by Thorrez

2 years ago

Similarly Mr. Seid donated his company, didn't sell it. NYT says he got "an enormous personal tax windfall". Yes, the charity he donated it to then sold it. Does a person's tax windfall status depend on what the charity does with the stock after donation?

I guess you could say that NYT's position is:

* If the charity sells the stock, we'll consider the donor to have gotten "an enormous personal tax windfall".

* If the charity holds the stock and instead collects dividends from it for a long period, we'll consider the donor to have gotten "no tax benefit".

I don't think that's a logical position though. For one thing, what if the Patagonia-owning charity decides tomorrow to sell the stock? Does NYT retroactively go back and say the Chouinard family actually did get a tax benefit?