Donating stock or securities offers a number of benefits:
- A federal income charitable contribution tax deduction based on the stock’s fair market value on the date of the gift (up to 30% of your adjusted gross income) if the stock was owned for more than one year;
- Carryover of the deduction for up to five additional years if the fair market value of the gift is more than 30% of your adjusted gross income; and
- Avoidance of capital gains tax that is due when you sell appreciated stock
Note: Stock owned for one year or less is considered a short-term asset and usually won’t produce attractive tax benefits.
Also, if the stock has decreased in value, selling it and making a cash gift to Kids in Tech, Inc. may be more beneficial. You can take a capital loss on federal taxes and still enjoy a charitable deduction up to 50% of your adjusted gross income.
You may give a gift of stock by filling out the form below, or by completing this form and returning it by mail to:
Kids in Tech, Inc.
Attn: Development Department
PO Box 9057
Lowell, MA 01853
- Kids in Tech’s brokerage account is with Edward Jones.
