Have you been successful in the stock market? If so, consider protecting clean water in a unique way. If you own appreciated stock, consider donating the stock instead of cash. Read more to learn about tax benefits of donating appreciated stock.
Get Tax Savings and Help the Columbia
Under the new 2018 tax laws, if you have held stock for more than one year and you donate it to charity, you are entitled to an income tax charitable deduction equal to the stock’s fair market value on the date of the donation. Plus you are not subject to capital gains tax. Columbia Riverkeeper can then sell the stock for full value. It’s a win-win.
To get the income tax deduction, you must itemize deductions, and not take the standard deduction, and so the charitable deduction along with your other deductions would need to be greater than the $12,000 deduction for single persons or $24,000 for married taxpayers. Ask your accountant or tax adviser for more information or read more about it here.
To make a donation of stock, contact Development Director, Sandy Wright email@example.com.