STOCK TRANSFER

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Among the many potential tax advantages, you’re entitled to a federal income-tax charitable deduction when you file an itemized return, and many state income-tax laws also allow this type of deduction. When the donated items have been held for 12 months or longer, you may claim a deduction for their full fair-market value, and after appreciated securities are donated, you avoid paying tax on the capital gain.

Note: Always discuss donations with your tax consultant to maximize your benefits.

Posted on July 21, 2014 .