Donating stock to charity?

[question everything]

Do charities need a mechanism to get them from the brokerage house?

I am not sure that I even use the correct terminology here..

[Sanity Claws]

1. I would follow the instructions of the charity

regarding how to do it.

[question everything]

2. Thanks. I will

[multigraincracker]

3. Makes me wonder how you would handle

capital gains and losses on the stocks.

[question everything]

4. You don't, I think. I did it in 2016 but do not remember much

I had shares of Medtronics and it was moving its offices to Ireland which would have created capital gains. A charity offered to take the shares off my hands and instead of capital gain I had a deductible donation.

I had only 100 shares but there were many, including former employees that had accumulated many shares and were angry.

Oh, and officers and board members were exempt

[euphorb]

5. There are several tax issues involved with donating stock to charity.

You should consult your tax advisor before making this donation. DU is not the place to ask for or receive legal advice.

[progree]

7. Everything I've read is that neither you nor the charity pay any capital gains tax on asset donation

and that's why highly appreciated (in the capital gains sense) stock is such a good idea for donating, if one is thinking of donating something.

And you get to deduct the full market value of the stock you donated (assuming you have enough itemizable deductions to itemize).

But of course we're not supposed to talk about taxes or financial decisions here, according to some, but only to the pros. Oh well, alas!

[question everything]

8. 😉