NOW COULD BE A GREAT TIME TO TURN BUSHELS OF GRAIN, CORN, OR SOYBEANS INTO A CHARITABLE CONTRIBUTION. DEPENDING ON THE CIRCUMSTANCES, FARMERS WHO MAKE A GIFT COULD POTENTIALLY SAVE ON TAXES AND DEDUCT THE COST OF PRODUCTION.
When you make a charitable gift of cash, you get an income tax charitable deduction only. When you make a charitable gift of the same value with appreciated stock, you get the same income tax charitable deduction and you avoid capital gains tax on all of your capital gain. The more highly appreciated your security, the more capital gains tax you will avoid.