Donating appreciated shares is an excellent tax strategy for charitable giving. That’s because as long as you have held the shares for twelve months, you can take a deduction worth their current market value. (Otherwise, the deduction is limited to your cost basis.) Meanwhile, any qualified charity can reap the full value of the shares, too. Uncle Sam doesn’t get a dime of taxes on all that capital appreciation. (A private foundation would have to pay a small tax — up to 2% — if it sells the appreciated shares you donate.)
As long as your gift goes to a public charity, your deduction can be up to 30% of your adjusted gross income.
Fidelity surveyed 508 households with at least 100,000 in investable assets. Less than a third recognized the added benefit of donating appreciated securities. Just 5% reported having donated securities in the past 3 years.
It is a good opportunity not to be missed again if you met the parameters. If you would like to make a donation to the Carroll Center, there are many ways to give