Donating stock that has appreciated in value is a win-win move for you and Aspen Film. You won’t have to pay capital gains taxes on the profits, the full value of the stock can be deducted as a charitable donation, and you help Aspen Film further its mission.
For example, say you own $10,000 worth of stock that you originally bought for $3,000. If you sell it now, you’ll pay tax on the $7,000 profit. (If you’re in the 28 percent federal tax bracket, and qualify for the 20 percent long-term capital gains rate, you’d pay $1,400 in tax. That reduces the $10,000 to $8,600.) But if you give your $10,000 worth of unsold stocks to a charity, the IRS kindly lets you claim a tax deduction for the full $10,000. At the 28% tax bracket that works out to a $2,800 deduction.
It’s quick, it’s easy, it helps Aspen Film.
For instructions on how to transfer stock to Aspen Film, please contact Susan Wrubel, Executive Director, at firstname.lastname@example.org or 970.925.6882.