For stock held in brokerage accounts, your broker can assist you in making a gift of stock via a direct transfer to unPrison Project. Giving a gift of publicly traded stock that has increased in value and that you have owned for more than one year may provide better tax benefits than giving cash.
Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock. You may also save on brokerage fees because you are transferring ownership rather than selling the stock.
PRINT THE NEXT PAGE. After completing and signing this letter of instruction, please:
- Send one copy to your broker (only your broker can initiate the stock transfer)
- Send one copy via USPS or email to: email@example.com
8014 Olson Memorial Hwy #153
Minneapolis, MN 55427
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