Investing in the stock market can provide many long-term advantages, including possible profit when stock prices increase over time.
In fact, many stock and security holdings already have a significant level of unrealized gain. The only problem is that when you sell these stocks and securities which have gained in value, you may have to pay both federal and state taxes on the profits you made – thus decreasing the amount of overall financial gain you might enjoy.
By gifting your stocks and securities to Operation First Response, you can enjoy the benefit of their full current appreciated value as a tax deduction, without any further tax implications!
If you have owned stock or security for at least 12 months, you may donate it to Operation First Response. The IRS will allow you to deduct its full market value without paying any tax on the long-term capital gain. This benefits both you and Operation First Response: You get an added tax deduction and Operation First Response gets a larger gift than if you had sold the stock, paid tax on the gains, and donated the remainder. Your stock or security transfer just needs to be completed by December 31 to claim the deduction on your current year tax statement. Always check with your tax or financial advisor before making any gifts of stocks or securities.
Donating Your Stock or Security to Operation First Response
Before you begin any stock or securities transfer, please contact us. We will need to know the name of the corporation, the exact number of shares, the expected transfer date, and the name and telephone number of your broker /agent. We will then contact you or your broker/agent directly to make arrangements for the transfer.
Your generous donation enables you to make a world of difference in the lives of wounded veterans and their families. They have given so much to help make this great country of ours stronger – and now your donation can help make them strong too!