Stock Donations
Donating stock or securities, particularly those that have increased in value, or that have been held for more than a year, can be a wonderful way to potentially give a bit than a cash gift, while reaping these benefits:
Your federal tax deduction will be based on the stock's fair market value (FMV) on the date of your gift if the stock was owned for more than one year.
You avoid being taxed on the capital gains when you donate appreciated stock.
To make a stock transfer to Venice Arts:
Contact Karen Kiss, at Karen@venice-arts.org
Thank you for your support!
NOTE: Stock owned for less than a year is a short-term asset and may not produce tax benefits. Additionally, you may be eligible for a 5-year carry-over of your deduction if the FMV is more than 30% of your adjusted gross income. For stocks that have decreased in value, you might consider selling them to make a cash gift to Venice Arts, as this may be more beneficial from a tax perspective. Venice Arts is not in a position to offer financial advice. Be sure to contact an attorney or financial advisor to discuss the benefits and restrictions of stock donations specific to your situation.