There are many advantages to making a gift of stocks.
Although you should check with your tax professional about how these rules apply to you, the following information may help you understand the process:
- Under current tax laws, the full fair-market value of stocks and bonds (up to a percentage of adjusted gross income, with a five-year carryover for any “excess”) may be deducted. The extra benefit of donating appreciated stocks or bonds is that federal capital gains tax on the securities unrealized appreciation may be avoided.
- The value of your gift of securities is based upon the mean between the high and low quotations on the specific day your securities pass from your control.
To donate stock, contact your broker to determine the stock and number of shares you would like to contribute. MSC can provide your broker with the information needed to transfer your contribution.
Questions? Contact us at donations@mschelps.org