Other Ways To Give
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Donating to IMAHELPS THROUGH Giving Assistant
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Stock Donations
Why Donate Stock?
There are very favorable tax rules for donors who want to donate long-term stock (stock they have owned for more than one year) that has appreciated in value. Basically, the donor never has to pay capital gains on the appreciated stock. This can be a tremendous tax benefit and great incentive for donors to give stock to nonprofits.
Here’s How It Works…
If someone owns stock for more than one year that has gone up in value, that person can donate the stock to a nonprofit, get a deduction equal to the fair market value of the stock at the time of the transfer (its increased value), and never pay capital gains tax on the appreciated value of the stock. The nonprofit will never owe that capital gains tax either. It can take the stock and either sell it right away and not pay any tax, or it can hold on to it—but it will never owe capital gains tax on the appreciated value the donor realized.
Example
Jason owns 1,000 shares of Evergreen stock, which is traded on the New York Stock Exchange. He paid $1,000 for the shares back in 2005 and they are worth $10,000 today. He gives the stock to his favorite nonprofit, IMAHelps, and deducts its $10,000 fair market value as a charitable contribution.
Jason need not pay the 15% capital gains tax on the $9,000 gain in the value of his stock. IMAHelps sells the stock and pays no taxes on the $10,000 it receives. Had Jason sold the stock he would have had to pay a $1,350 long-term capital gains tax on his $9,000 profit (15% x $9,000 = $1,350). This would have left him only $8,650 from the stock sale to donate to nonprofit.