Donating securities can be a tax-wise way for you to support Environmental Advocates NY’s mission. In order to be fully deductible, the gifted securities must have been held by you for more than one year.
Advantages:
- You can receive a charitable income tax deduction equal to the fair market value of the donated securities.
- You can completely avoid capital gain tax that you would owe on the difference between the cost basis, or purchase price, and the price at which the asset is sold.