Donating stock and securities instead of cash may help you get a bigger tax break.
Make a bigger impact by donating long-term appreciated securities, including stock, bonds and mutual funds directly to Alliance for Cancer Gene Therapy. Before-tax gifts are typically tax deductible for the full market value. By donating stock and securities that have appreciated for more than a year, you maximize your tax deduction and give 20% more than if you sold them and made a cash donation.
Talk with your broker. Most banks and brokerage firms require a simple letter of instruction or authorization to transfer assets. Mutual fund companies may have a special form. It’s a good idea to start the process at least two weeks before December 31.
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