Gifts of Stock

Making a gift of long-term appreciated securities may bring extra tax savings compared to a gift of cash.  The secret is the double tax benefit.  You may deduct the current fair market value as a charitable gift and avoid any capital gains tax on the appreciation.  For example, suppose you give a gift of stock with a fair market value of $3,000.  Assume that you purchased this over a year ago for $500.  You can deduct the full $3,000 gift on this year’s income taxes (subject to limitations) and the $2,500 gain is not taxed to you even though it has inflated the charitable deduction.

Download the St. Mary Parish Electronic Transfer of Stock Information  for instructions.  Your broker will need to complete the transfer.