Giving Appreciated Investments to The Elijah Challenge
The Elijah Challenge accepts gifts of donated stocks, bonds, and
mutual funds. Donors in the United States can receive three kinds
of tax benefits by donating appreciated securities:
- Avoid
capital gains tax on the gifted investment.
- Receive
a charitable deduction which offsets adjusted gross income.
- The
value of your estate is reduced which can reduce estate taxes.
The Elijah Challenge has an investment account at a discount
broker for the purpose of receiving, investing and selling
donated securities.
For more information about making a donation of securities,
please contact the financial advisor for our investment
account, Lawrence
Boyles of Retirement Specialists.
Lawrence
may be reached at +1 (281) 486-9800 or at Lawrence@max401k.com.
Gifts
of Investments that have Declined in Value
If
you have investments that have declined in value over the years
and are interested in donating them to The Elijah Challenge,
it is usually more advantageous to sell the securities first
and contribute the proceeds as opposed to donating the securities
outright. This strategy should allow you to claim a deduction
for both the capital loss from the sale of the securities,
and the charitable contribution. Call Lawrence Boyles if you
need
assistance with this.