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Gift of Marketable Securities Letter of Authorization from Donor to Broker Thank you for making a gift of securities to the Royal Victoria Regional Health Center Foundation To transfer securities

How to fill out gift of marketable securities

How to fill out gift of marketable securities

1. Obtain the necessary forms or documents for gifting marketable securities. This may include a charitable gift agreement or a letter of instruction from the intended recipient.
2. Determine the fair market value of the securities you wish to gift. This can usually be found by checking the current market price or consulting with a financial advisor.
3. Contact the intended recipient or their designated representative to inform them of your intention to gift marketable securities. They will provide you with the necessary instructions and forms to complete the process.
4. Complete any required paperwork, including filling out the necessary forms and providing any supporting documentation requested by the recipient.
5. Arrange for the transfer of the marketable securities to the intended recipient. This may involve working with your financial institution or brokerage firm to initiate the transfer.
6. Follow up with the recipient to ensure that the transfer has been completed successfully and that they have received the gifted marketable securities.
7. Keep copies of all relevant documents for your records and for tax purposes. Consult with a tax advisor or accountant to understand any potential tax implications of gifting marketable securities.

Who needs gift of marketable securities?

1. Anyone who wishes to make a charitable donation through the transfer of marketable securities may need to understand how to gift marketable securities.
2. Individuals or organizations who have appreciated securities and wish to avoid capital gains tax on the appreciation may choose to gift marketable securities.
3. Donors who believe that their marketable securities can benefit a charitable organization or cause in a more significant way than selling the securities and donating the proceeds may opt for gifting marketable securities.
4. Non-profit organizations, charities, or religious institutions that accept donations in the form of marketable securities may require individuals to follow specific instructions on how to fill out and gift marketable securities.

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What is gift of marketable securities?

A gift of marketable securities refers to the transfer of ownership of publicly traded stocks or bonds from one individual to another without receiving anything in return. This type of gift can have tax implications and benefits for both the giver and receiver.

Who is required to file gift of marketable securities?

Individuals who make gifts of marketable securities that exceed the annual exclusion limit set by the IRS are required to file a gift tax return (Form 709).

How to fill out gift of marketable securities?

To fill out a gift of marketable securities, one must complete Form 709 by listing the details of the securities gifted, including their fair market value at the time of the gift, the recipient's information, and any applicable deductions or exclusions.

What is the purpose of gift of marketable securities?

The purpose of gifting marketable securities includes tax planning, transferring wealth, making charitable contributions, or helping family members financially.

What information must be reported on gift of marketable securities?

The information that must be reported includes the description of the securities, the fair market value at the time of transfer, the date of the gift, and the recipient's information.