If you gift securities (mutual funds, ETFs, stocks, etc.) to charity, then you are probably aware that you receive a deduction of the fair market value of the securities on your tax return -- in the form of an itemized deduction.
You also may be aware of the dual tax benefit of donating appreciated securities to charity. You save on the capital gains tax should you have sold the security and gifted the proceeds, and you, potentially, can take a deduction for the fair market value of the donation (certain limitations apply).
But if you were fortunate enough to put some cash to work in 2009, and generous enough to donate those same securities to a qualifying charity, then you may be out of luck on deducting the fair market value of the gift...read more about the limitations of charitable deductions