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GIFT OF STOCK OR BOND CERTIFICATES HELD BY BROKERAGE FIRM Client Name/Registration: Broker/ Dealer: Account Number: I/ We hereby gift the following: Issue/ Security Name: CUSP or Symbol of Security:

How to fill out gift of stock or

How to fill out gift of stock or

1. To fill out a gift of stock, follow these steps:
2. Obtain the necessary forms: Contact the brokerage firm where the stock is held and request the appropriate gift of stock form.
3. Gather the required information: Collect the relevant details such as the donor's name, address, and social security number, as well as the name and quantity of the stock to be gifted.
4. Fill out the form: Complete all sections of the gift of stock form, providing accurate and complete information.
5. Sign and date the form: Ensure that the donor signs and dates the form as required.
6. Submit the form: Send the completed form to the brokerage firm through the specified method, such as mail or online submission.
7. Notify the charity: Inform the intended charitable organization of the impending gift of stock, providing any necessary details that they may require.
8. Consult a tax advisor: Seek guidance from a tax professional to understand the tax implications and benefits associated with the gift of stock.
9. Keep records: Retain copies of all relevant documentation for future reference or record-keeping purposes.

Who needs gift of stock or?

1. A gift of stock is needed by various individuals or entities, including:
2. Charitable organizations: Nonprofit organizations often rely on gifts of stock for fundraising purposes. These donations can be used to support the organization's initiatives and further its mission.
3. Donors seeking tax deductions: Individuals who wish to support charitable causes and also benefit from potential tax deductions may choose to make a gift of stock.
4. Investors looking to diversify: Stockholders who have a concentrated portfolio or a significant holding in a particular stock may opt to gift some of their shares to diversify their investments.
5. Estate planning purposes: Some individuals include gifts of stock in their estate planning strategies to reduce potential estate tax liabilities.
6. Stock issuers seeking employee retention: Companies may offer gifts of stock to employees as an incentive or recognition for their contributions, aiming to enhance employee retention and loyalty.

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What is gift of stock or?

A gift of stock refers to the transfer of ownership of shares in a corporation from one individual to another without the expectation of anything in return.

Who is required to file gift of stock or?

The donor (the person giving the gift) is required to file a gift tax return if the value of the gift exceeds the annual exclusion limit.

How to fill out gift of stock or?

To fill out a gift tax return, complete IRS Form 709, providing details about the donor, recipient, and the value of the stock gifted.

What is the purpose of gift of stock or?

The purpose of filing a gift tax return is to report taxable gifts to the IRS and to track the donor's lifetime gift tax exemption.

What information must be reported on gift of stock or?

The report must include the donor's and recipient's information, description of the gifted stock, date of transfer, and fair market value at the time of the gift.