Is it possible to gift long-term gain assets by selling first then writing a check? Per the title, I have a taxable account invested in equity mutual funds. I have certain funds that are subject to capital gains. I know that I can donate shares to a charity however, this requires a medallion signature guarantee (which is a massive pain). I was wondering if it is possible to sell from the long-term gain position, refuse withholding, write a check to the charity, and then submit some type of IRS form to avoid long-term capital gains.
Let me know and thanks in advance for your help! |