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GIFTS OF SECURITIES Tapestry Foundation for Health Care STEP 1 Complete the Form STEP 2 Fax to: 604.806.9350, Attention: Janice Ward Lower Email: jwaudloper providence health.bc.ca Donor Information:
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How to fill out gifts of securities tapestry
How to fill out gifts of securities tapestry?
01
Contact the organization receiving the gift: Begin by reaching out to the specific organization or charity to inquire about their process for accepting gifts of securities. They will provide you with the necessary forms and instructions.
02
Gather the required information: Collect all the relevant information about the securities you wish to donate. This includes the type of security, number of shares, and their current market value. You may also need to provide the date of acquisition and any associated costs.
03
Complete the donation form: Fill out the donation form provided by the organization. This form will typically require your personal information, including name, contact details, and social security number or tax identification number.
04
Provide details of the securities: In the form, specify the details of the securities you are donating. This includes the name and ticker symbol of the security, number of shares, and their fair market value. You may also need to indicate whether the securities are held electronically or in certificate form.
05
Transfer the securities: Work with your financial institution or broker to initiate the transfer of the securities to the designated account provided by the charity or organization. Ensure you follow all instructions and deadlines provided by both the organization and your financial institution.
06
Obtain a receipt: Once the transfer is complete, the organization should provide you with a receipt or acknowledgement of your gift. This document will be important for tax purposes, as it verifies the value of your donation.
Who needs gifts of securities tapestry?
01
Non-profit organizations and charities: Gifts of securities can be beneficial for non-profit organizations and charities as they can be sold or kept to generate income for their programs and initiatives.
02
Donors with appreciated securities: Individuals or entities who hold securities that have appreciated in value may choose to donate them instead of selling them directly. This can provide potential tax advantages, as well as support causes they care about.
03
Those looking for tax benefits: Donating appreciated securities can offer certain tax benefits. By gifting securities, donors may receive a tax deduction for the fair market value of the securities, while also avoiding capital gains taxes they would have incurred if they sold the securities themselves.
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What is gifts of securities tapestry?
Gifts of securities tapestry is a form used to report donations of securities, such as stocks and bonds, to the IRS.
Who is required to file gifts of securities tapestry?
Individuals and organizations who receive gifts of securities valued at $5,000 or more are required to file gifts of securities tapestry.
How to fill out gifts of securities tapestry?
Gifts of securities tapestry can be filled out online or by mailing in a paper form. It requires information about the donor, the type of securities donated, and their value.
What is the purpose of gifts of securities tapestry?
The purpose of gifts of securities tapestry is to ensure that donations of securities are properly reported to the IRS and that donors receive the appropriate tax deductions.
What information must be reported on gifts of securities tapestry?
Information such as the donor's name and address, the description of the securities donated, their value, and the date of donation must be reported on gifts of securities tapestry.
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