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Gifts of Stock Instructions for Donations of Stock to New England Village, Inc. (NEV) Below you will find two-step instructions for contributing a gift of stock to NEV. (Should you also require the
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Gifts of stock refer to the transfer of ownership of stock from one party to another as a gift.
The person who received the gift of stock is required to file the gift with the IRS.
Gifts of stock can be reported using IRS Form 709 - United States Gift (and Generation-Skipping Transfer) Tax Return.
The purpose of reporting gifts of stock is to ensure that any potential gift tax owed on the transfer is properly calculated and paid.
The value of the stock at the time of the gift, any relevant cost basis information, and details of the transfer must be reported on gifts of stock.
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