The stock market has been on a wild ride this year, most recently surging to near record highs. With the value of many stocks rising significantly in recent days, this may be the ideal time to support The Arc of Massachusetts with a gift of appreciated stock or mutual funds. In addition to making our mission possible, you may also realize significant tax benefits, including not paying tax on the appreciation of the stock.
For example, if you purchased stock for $20 per share and it is now trading at $50 per share, you can donate the stock and avoid paying taxes on the $30 in increased value. Good news even if you don’t itemize your deductions. However, if you are able to itemize your deductions under the new tax laws, you can take a charitable deduction for the fair market value of the stock, which in this case is $50 per share.
There are important details to know, such as you need to have owned the stock for at least one year, so you should consult a tax advisor or your accountant for advice related to your personal circumstances. And please do let us know that you are transferring securities so that we credit you properly and issue a receipt for tax purposes.
For The Arc’s account information, please contact Katrin Aback, Director of Development at aback@arcmass.org.
