GIFT OF STOCK
GIVING GIFTS OF STOCK
Giving gifts of appreciated stock is an excellent way to make a donation to Routt Catholic High School and provide yourself with tax benefits. When you make a donation of stock that has appreciated in value, you do not have to declare capital gains on your taxes for that stock. You also get the benefit of a charitable gift deduction. The stock gift you give to Routt is valued at the average of the high and low prices on the day your broker trasfers the stock to Routt, and that is the amount of the deduction you can claim.
When transferring stock, please contact the Development Office at Routt to get the information to contact our broker. If you have stock certificates, check with your broker about getting a medallion signature guarantee to secure the certificate during the transfer process.
If you decide to make a stock donation at the end of the calendar year, the IRS stipulates different guidelines for determining the legal gift date depending on how the transfer was made. Therefore, start the process early so you know the transaction will be completed before December 31 and thereby eligible for a tax deduction for that year.