Donating Stock

By donating stock or mutual fund shares you've held for more than a year, you can deduct the full current market value on your tax return and do not have to pay capital gains tax on the appreciated value.

However, if the shares have been held for one year or less, your deduction is limited to the price you originally paid. Even if you faced losses in your portfolio, donating stock can still be a beneficial way to make a contribution. Typically, you would write losses off against gains to minimize capital gains tax. But if you give away your gains to CCBF, you can still use your losses to reduce your regular income. For many, this results in a greater benefit because income tax rates are higher than the capital gains tax rate!

Please be sure to consult your financial advisers about donating stock or mutual funds to CCBF.