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UM Foundation, Inc. 1440 E. North Ave. Milwaukee, WI 53202 O: (414) 9064640 F: (414) 9064680 www.uwmfdn.orgGifts of Stock Electronic Delivery Via Depository Trust Company (DTC) Please return this

How to fill out gifts of stock

How to fill out gifts of stock

1. Obtain the necessary forms: contact the organization or institution to which you wish to donate the stock and request the appropriate forms.
2. Obtain the required information: gather the information necessary to fill out the forms, such as your name, address, social security number, the number of shares you wish to donate, and the stock symbol.
3. Fill out the forms: carefully complete the forms, providing all the requested information accurately.
4. Provide supporting documentation: attach any required documentation, such as a copy of the stock certificate or a statement from the brokerage confirming ownership.
5. Submit the forms: send the completed forms and supporting documentation to the organization or institution according to their specified instructions.
6. Follow up: keep copies of all documents submitted and follow up with the organization to ensure they have received your donation and to obtain any necessary acknowledgments or receipts for tax purposes.

Who needs gifts of stock?

1. Gifts of stock can be beneficial for individuals and organizations alike:
2. - Individual donors who hold appreciated stocks can benefit from tax advantages by donating the stock rather than selling it.
3. - Non-profit organizations and charitable institutions can benefit from receiving gifts of stock as a form of financial support.
4. - Stockbrokers and financial advisors can also guide their clients on the option of donating stocks as part of their financial and estate planning strategies.
5. - Anyone interested in supporting a cause or contributing to a charitable organization can consider gifts of stock as a means of philanthropy.

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What is gifts of stock?

Gifts of stock refer to the transferring of shares of a company's stock to another person as a gift.

Who is required to file gifts of stock?

Any individual or entity who gives a gift of stock valued above a certain threshold set by the IRS is required to file gifts of stock.

How to fill out gifts of stock?

Gifts of stock are typically reported using IRS Form 709, the United States Gift (and Generation-Skipping Transfer) Tax Return. The form requires information about the donor, the recipient, and the value of the gift.

What is the purpose of gifts of stock?

The purpose of gifts of stock is to transfer ownership of shares in a company from one person to another without the need for a monetary transaction. It can be used for estate planning, tax planning, or charitable giving purposes.

What information must be reported on gifts of stock?

Information that must be reported on gifts of stock includes the donor's details, the recipient's details, the value of the stock at the time of the gift, and any relevant supporting documentation.