Transferring securities held long term to Florida TaxWatch allows you to make a gift and receive a charitable deduction equal to the full, fair market value of the securities. You pay no capital gains on your gift and neither does Florida TaxWatch.
The best method of transferring these assets to Florida TaxWatch is to contact your broker and electronically transfer the stock from your account to Florida TaxWatch’s account. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
In order for Florida TaxWatch to acknowledge your gift and provide you with an IRS receipt, please take the following steps:
- Call the Florida TaxWatch’s membership office at (850) 222-5052 and let us know that you would like to make a gift of stock.
- Provide your name, your phone number, the name of the stock you are giving and the number of shares (e.g. 20 shares of Microsoft)
- We will provide you the details to give to your broker in order to make the transfer.