Giving stock may offer you a tax advantage
If you own appreciated stock or mutual funds, you may receive a two-fold tax advantage.
- You will avoid paying capital gains tax on the increase in the value of the stock or mutual funds. For example, if you donate stock that you purchased for $1,000 and is now worth $5,000, you will not have to pay capital gains tax on the $4,000 appreciation.
- You will receive a federal income tax deduction for the full fair market value of the stock or mutual funds at the time of the gift. Using the same example above, an outright gift of that stock would provide a full charitable contribution deduction of $5,000.
Please note that this information should not be construed as legal or tax advice. Please contact your own accountant, attorney, or tax advisor for assistance regarding stock or mutual fund gifts you may be considering making to Many Voices.
DTC code: 5198
Account name: Many Voices
Account number: 8TG-02268
Brokerage: Merrill Lynch
Please contact us by email at email@example.com. We’ll be happy to work with you to arrange the transfer.
*Many Voices is a 501(c)(3) nonprofit organization. All donations are tax deductible to the fullest extent of the law. Tax ID: 45-4613506