Donations of Stocks, Bonds and Mutual Fund Shares
Donating stocks, bonds, or mutual fund shares is an especially attractive option if you've held these securities for a year or more and they've increased in value since you acquired them. If you donate securities under those circumstances, the benefits to you are:
- you're not liable for capital gains taxes you'd have to pay if you sold the securities outright,
- you don't have to pay brokers' sales commissions,
- you still get a tax deduction for the securities' full market value. (Generally, you may deduct donations totaling up to 30% of your adjusted gross income in any year, with a five-year carry-over for any excess.)
The benefit to PVAS is that we receive a larger donation than we would if you sold the securities and gave the net, after-tax proceeds to us.
How to make a donation:
- To handle donations of stocks, bonds and mutual fund shares, PVAS maintains a Fidelity Brokerage Account at Hoxton Financial, Inc., in Shepherdstown, WV. Most transactions can be handled easily by electronic transfer.
- For details on how to make such a donation, or for further information, email Kristin Alexander or call 304-676-3397.
Please remember the following:
- As with any charitable donation, you can only deduct donations of securities if you itemize deductions on Schedule A of your Form 1040.
- And be sure to consult your accountant, tax attorney or financial advisor if you have questions about the impacts of a particular donation on your current tax situation.