The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. Even if it is stock you wish to keep in your portfolio, by giving us the stock and using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.
A Sure Way to Avoid Capital Gains Tax Why pay taxes if you don't have to? A charitable gift of stock completely avoids the long-term capital gains tax, allowing the full value of the asset to be put to use!
If you wish to make a donation of stock, please contact Janel Jorgensen, National Executive Director at (888) SWIM-USA.