Donating appreciated securities (like publicly traded stock, bonds, or mutual funds) that you have owned for more than one year is an incredible gift to Home ReSource and can have additional tax benefits for you.
When you donate securities to Home ReSource, you will receive a charitable income tax deduction for its full market value. Even better, you will avoid any capital gains tax on the increase in value of the stock since you purchased it.
Seek Advice Prior to Donating
A gift of stock made before December 31 of a calendar year may reduce your tax burden for the year you give. Your financial advisor can explain the possible tax benefits depending on whether the stock has appreciated or lost value since the time you acquired it. If your stock has been held long-term but has decreased in value, it may be more advantageous for you to sell the stock and give cash to Home ReSource.
Take the Next Steps
If you are interested in donating securities to Home ReSource, contact Jess Allred, at jessica@homeresource.org with any questions of for transfer information.