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Here’s a happy scenario:
Over the years you have invested in the stock market, and many of your holdings are now worth a great deal more than you paid for them. That’s an envious position: congratulations!
But if you sell the stock, you will owe a capital gains tax on that appreciation.
So, here’s an idea: donate your stock directly to Vermont Adaptive Ski and Sports.
Assuming you’ve held the stock for more than a year, this is much better for you than giving cash. First, you can take a charitable deduction for the full market value of the stock on the day Vermont Adaptive receives it – even though it probably cost you a fraction of that amount when you bought the stock. And second, because Vermont Adaptive Ski and Sports is a charity, when we sell the stock we don’t have to pay any capital gains. And neither do you!
So if you bought stock for $1,000 years ago, and it’s now worth $10,000, you can donate those shares directly to Vermont Adaptive Ski and Sports. If you itemize your deductions, you will get a $10,000 charitable deduction, and Vermont Adaptive Ski and Sports will get a $10,000 gift!
For more information on making a stock gift to Vermont Adaptive Ski and Sports, call or write Erin Fernandez at email@example.com or (802) 786-4991 ext. 21.
For information on transferring stock electronically to Vermont Adaptive Ski and Sports, please email our Business Manager, Kip Dalury, at firstname.lastname@example.org.