A gift of stock or other appreciated property entitles you to a tax deduction for the market value of the donated stock, not just your cost basis. If the stock you wish to donate has been held for more than one year, you can avoid capital gains tax on any appreciation of the stock by donating the stock prior to sale.
Siskin Hospital benefits by selling the stock without paying taxes on the gain and you benefit from making a contribution that would be larger than what you might have been able to donate in cash.
Please notify Siskin Hospital if you plan to make a gift of stock so we can assist with appropriate arrangements with your broker or financial advisor.
For more information on gifts of stock or other appreciated property, contact your lawyer, financial advisor, or the Siskin Hospital Development office at 423.634.1208.
