What are the tax implications of donating appreciated stock?

When you list it as an itemized deduction, do you deduct it according to your cost basis?

If so, it would seem that this could be better than selling it first and then donating the money due to the way the AMT works (i.e. if it you get into the territory of deductions being limited).

(I have been meaning to ask this question and don't think I have yet. If I've forgotten and have already asked this previously in another post, please excuse me.)

Deduction for stock donation is accounted for at fair value. (not to be considered tax advice)

Presumably then one has to pay capital gains tax on the difference between the acquisition cost and the value at the time of donation?

Not if it is capital gain property. (again, not tax advice)

If you've held the stock for over a year you get a deduction for fair market value. No capital gains tax to pay.

For noncash contributions like this there are certain restrictions as to how much you can deduct if the amount is large in realtion to AGI.

Hint: works particualrly well with ten baggers!