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DONATING GIFTS OF STOCK & APPRECIATED SECURITIES TO THE PRINCESS MARGARET CANCER FOUNDATION IN 2014 What makes Princess Margaret Cancer Center unique in Canada and one of the top five cancer research
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How to fill out donating gifts of stock
How to fill out donating gifts of stock
01
Contact the organization or charity to verify if they accept donations of stock.
02
Obtain the necessary information from the organization, such as their brokerage account and DTC number.
03
Instruct your brokerage firm to initiate the transfer of the stock to the organization's account.
04
Fill out any required forms or paperwork provided by your brokerage firm or the organization.
05
Be sure to provide all necessary documentation, such as stock certificates or electronic statements, to the organization.
06
Keep records of the donation for tax purposes, including the date of transfer, the number of shares donated, and the stock's fair market value at the time of donation.
07
Consult with a tax advisor or accountant to ensure you understand the tax implications of your donation.
08
Consider obtaining a written acknowledgment from the organization for your donation.
Who needs donating gifts of stock?
01
Individuals who have appreciated stocks and want to make a charitable contribution.
02
Investors looking to support nonprofit organizations or causes they believe in.
03
Taxpayers who want to potentially reduce their taxable income through charitable deductions.
04
Donors who prefer to contribute stocks rather than cash or other assets.
05
Organizations or charities that rely on donations to fund their programs and initiatives.
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What is donating gifts of stock?
Donating gifts of stock is the act of giving shares of stock as a charitable donation.
Who is required to file donating gifts of stock?
Individuals or organizations who donate gifts of stock worth over a certain amount are required to file.
How to fill out donating gifts of stock?
To fill out donating gifts of stock, you will need to provide information on the stock being donated, the recipient charity, and the fair market value of the stock.
What is the purpose of donating gifts of stock?
The purpose of donating gifts of stock is to support charitable organizations and potentially receive tax benefits.
What information must be reported on donating gifts of stock?
The information that must be reported includes the type of stock, the number of shares donated, the date of donation, and the fair market value of the stock.
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