Gifts of Securities
For many people, investments in securities represent a significant portion of their assets. Stocks and other investments are often an important part of one’s long-term plans. Your investments can also be an excellent source of charitable gifts. Publicly traded stocks, bonds, mutual funds, and other securities that you have owned for more than one year not only make convenient gifts, but can also provide welcome tax benefits.
If you sell securities that have appreciated in value over time, you will owe a substantial capital gains tax. But, if you use such assets to make a charitable gift, you may avoid the capital gains tax and enjoy a federal income tax deduction for the full value of the securities.
To give securities that are worth less than their purchase price, it is usually best to sell the asset, and then give the cash proceeds to the charity. You may be able to claim tax benefits for both the capital loss and the charitable gift.
Your broker may electronically transfer appreciated securities directly to MHA Houston. For more information please contact:
Merrill Lynch, Attention: Jim Perwien
Please be sure to reference your name in the transfer instructions so we may properly acknowledge your gift.
If you have physical certificates in your possession, please contact Mary Catherine Sears at 713-520-3478 for mailing instructions.
This information is not intended as legal, accounting or other professional advice. You should consult an attorney or other financial advisors for assistance in planning charitable gifts with tax and other financial implications.