Did you know that you could reduce your taxable income by deducting the full fair market value of the securities you donate to the American Red Cross of Broward County, as long as you have owned these assets for at least one year? For example, you paid $100 for 10 shares of Computer, Inc. in 1997 - the shares are now worth $200. You can deduct $200 -- twice as much as you paid for the stock!
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| Avoid Capital Gains Taxes |
Normally when you sell securities that have gone up in value, you must pay capital gains tax on the increase in value. However, by donating the securities to charity, you do not pay capital gains tax.
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| Make a Gift of Securities |
If your stock is held in a brokerage account, please instruct your broker to transfer the shares to the Morgan Stanley, 2400 E. Commercial Blvd. St 1200, Ft. Lauderdale, FL 33308, attention James Ambrose Jr. You will need our account number and DTC number for each Brokerage.
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| Mutual Funds |
Please contact the American Red Cross of Broward County to discuss gifts of mutual funds. The mutual fund transfer process is more complicated than that for stock donations and can take much longer to accomplish. To allow ample time for the transfer to occur prior to year-end, we recommend beginning the process no later than November 15th.
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Who can tell me more?
If you have the stock certificates in your possession or wish to contribute mutual funds, please contact:
Gloria Kaplan
(954) 797-3813
kaplang@usa.redcross.org |
Kathryn J. Cousins
(954) 797-3807
cousinsk@usa.redcross.org |
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