Gifts to WPI of stocks, bonds or mutual fund shares you have held long term (at least 12 months and one day) qualify for a charitable deduction based on the fair market value of the securities on the date of transfer. In most cases you will avoid any potential capital gain tax liability. Such gifts may be deducted for federal income tax purposes up to 30 percent of adjusted gross income, with a five-year carry-over provision available, if needed. It is generally inadvisable to give WPI securities in which your capital gain is short-term (i.e., securities that you have owned for less than 12 months). In such cases, the deduction will be for the cost basis of the securities, not the current market value.
If you wish to make a gift of stock, please email Kathy Kuhlwein or call her at (508) 831-6740.
You should not give WPI any property in which you have a capital loss. Rather, if you wish to dispose of such securities, you should sell them, establish a deductible capital loss, and then contribute the proceeds to WPI.
Donors considering a gift of appreciated property should contact their tax advisors regarding any personal tax implications.