When you transfer a gift of appreciated securities to IDES you will not owe capital gains taxes on the long-term appreciation of the shares.
And, if you itemize your deductions, you will still be able to claim the full market value of the shares as a charitable contribution for the current tax year.
To take full advantage of this opportunity, it is important that you have owned the shares more than a year, and the amount of your combined charitable deductions is less than 30% of your adjusted gross income. If the amount of your charitable donations exceeds what’s deductible in a given year, the excess can be carried forward and deducted for up to five years.
(Note: To avoid capital gains taxes it is important that you transfer the shares directly to IDES, rather than selling them and donating the proceeds. You should also calculate the value of the shares at the time they are transferred to determine the amount of your charitable deduction.)
To learn more, please give us a call at 317-773-4111 and ask to speak with Rita or Gary.
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