By Ryan Weier, Wealth Management Services citing Charles Schwab Article.
You can usually deduct the full fair market value of appreciated long-term assets that you’ve held for more than one year—such as stocks, bonds, mutual funds, or other personal assets like real estate that have appreciated in value. An additional benefit is you don’t have to recognize any gains on the donation, which means you pay no capital gains tax on that property.
Donating long-term assets—especially highly appreciated securities—instead of cash can be a very effective and tax-efficient way to support a charity. If your assets have appreciated in value, you can generally increase the amount of your potential deduction as well as your gift by contributing the securities directly to the charity instead of the cash generated from selling them.”
https://www.schwab.com/learn/story/charitable-donations-basics-giving
If you are considering donating stock to KFFR or other nonprofits of your choice then we encourage you meet with Ryan Weier from Wealth Management Services.
He and Joe Rooykers have been huge supporters of the local radio station and have been helping Grand County residents for over 20 years!
You can contact them at:
Wealth Management Services
- 511 Zerex St.Fraser, CO 80442
- Phone: (970) 726-3135
- Website: WMSGrandCounty.com