Consider contributing to charity
Contributions to public charities can be an attractive strategy for reducing taxes. The amount of your deduction for charitable contributions is limited to 50% of your AGI, and may be limited to 30% or 20% of your AGI, depending on the type of property you give and the type of organization you give it to.
Long-term appreciated securities that have been held for more than one year and have increased in value may also be donated to any charity, whether a public charity or a private foundation. In this case, you are typically able to deduct the fair market value, and potentially eliminate capital gains tax on the appreciated value of the contribution.
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