The next steps
Make sure you are giving stock that has gone up in value and is held for more than a year. This is because you can only receive a charitable deduction for the fair market value, or current price of the stock, if you have held it for more than a year. If you have held it for less than a year, your deduction is limited to the cost-basis — what you paid for the stock — and not its current value. If you are giving private stock, you will need to get the value appraised by a broker or financial institution first, since its value isn’t known on the open market.
Note:
Bedrock Gardens urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences.
Bedrock Gardens urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences.