John and Kayla just heard about donations in kind and are ve…
John and Kayla just heard about donations in kind and are very excited because they have appreciated stock. For this year’s tithing, they give the church 40 shares of $165 Costco stock that they bought 10 years ago for $90 per share. If their long-term capital gains tax would be 15% and their current marginal tax rate is 28%, what are the total tax savings due to tithing, assuming they itemize deductions?