Give a Gift of Stock
Giving stock instead of cash can have many benefits. Most important—capital gains tax is potentially eliminated. Plus, stock gifts are eligible for the standard deduction.
Why Give Stock?
By giving stock held for at least a year, the 15 percent capital gains tax typically incurred can be potentially eliminated if you sell. Stock donations to public charities, like United Way, are eligible for a charitable tax deduction on both federal and state taxes—adding up to potentially big savings.
How to Give Stock
Follow the three simple steps below to complete your stock donation.
Create an Intent LetterDownload an example stock letter below. Print three copies of the letter (one for your records).
Send the LetterSend a copy to your banker/broker. Send the other copy to United Way.
Inform United WayInform us that your stock gift is coming. Include your name, phone number and the value of your pledge.
Information provided is general and educational in nature. It is not intended to be, and should not be construed as legal or tax advice. Greater Twin Cities United Way does not provide investment, legal or tax advice. Content provided relates to taxation at the federal level only. Availability of certain federal income tax deductions may depend on whether you itemize deductions. Rules and regulations regarding tax deductions for charitable giving vary at the state level, and laws of a specific state or laws relevant to a particular situation may affect the applicability, accuracy, or completeness of the information provided. Charitable contributions of capital gain property held for more than one year are usually deductible at fair market value. Deductions for capital gain property held for one year or less are usually limited to cost basis. Consult an attorney or tax advisor regarding your specific legal or tax situation.
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