GET 2 TAX BENEFITS FROM 1 DONATION: GIVE APPRECIATED STOCK INSTEAD OF CASH


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Get two tax benefits for one donation by giving appreciated stock instead of cash. If you donate appreciated publicly traded stock you’ve held more than one year to a qualified charity, you can 1) claim a charitable deduction equal to the stock’s fair market value and 2) avoid the capital gains tax you’d pay if you sold the stock. But don’t donate stock that’s worth less than what you paid for it. Instead, sell the stock so you can deduct the loss and then donate the cash proceeds to charity. For more details on the ins and outs of these strategies, contact us.