For those who donated appreciated stock, a double tax break is available. If you have held the property for more than one year, you can generally deduct the property’s fair market value up to 30% of your AGI, and not pay tax on its appreciation. Although this tax provision expired May 31, 1997, the new tax law reinstated it retroactively; however, it will expire again on June 30, 1998. If you are considering donating appreciated stock this year, you should do so before the expiration date; there is no guarantee that the law will once again be reinstated.