How to Donate Stock Your charitable donations make a bigger impact by donating long-term appreciated securities, such as publicly traded stock, bonds, or mutual fund shares, to Magdalena House.
Are stock donations to charity tax deductible?
Appreciated securities are investments that have increased in value from the time they were purchased. Some individuals and households may be able to take advantage of IRS tax provisions to claim a charitable tax deduction for the full, fair market value of the securities, and you may avoid paying capital gains tax on the transfer.
Instead of selling your investments and donating the after-tax cash proceeds, donating stock to a charity like Magdalena House allows you to increase your gift and tax deductions. A gift of stock made before December 31 of a calendar year may reduce your tax burden for the year you give. Your financial advisor can explain the possible tax benefits depending on whether the stock has appreciated or lost value since the time you acquired it.
Gifting stock to Magdalena House: A step-by-step guide
1. Consult with your tax advisor regarding your donation and IRS tax incentives.
2. Download the Transfer Stock Form for Magdalena House.
3. Complete your broker’s forms using the transfer information found in Transfer Stock Form or use the Transfer Stock Form to initiate the stock transfer.
4. Use the Transfer Stock Form to advise the Magdalena House of your
specific intended donation. It is extremely important that you notify Magdalena House when transferring stock into this account to ensure your tax acknowledgment.
5. Once the transfer is completed, Magdalena House will send you a detailed donation letter.
Please use the following legal name and tax identification:
P.O. Box 692041
San Antonio, Texas 78269
Tax ID Number: