Immediate Impact
And Income and Capital Gains Tax Savings for You
Gifts of marketable stocks, bonds, or mutual fund shares that have appreciated (increased in value) can have an immediate impact on your favorite Michigan Tech program—and also create an immediate income tax deduction for you based on their current value. And because there is no capital gains tax when you make the gift, you save on taxes twice.
The best method of transferring stocks, bonds, or mutual fund shares to the Fund depends on how they are held by you. Please contact the Office of Gift Planning for help with the easiest method of transferring assets. Selling the assets and then making a gift of the proceeds may trigger a capital gains liability for you. When giving at year-end, allow thirty days prior to December 31 for gift processing.
If you itemize deductions on your federal tax return, an outright gift of appreciated property held more than twelve months can be claimed as a charitable contribution up to an amount equal to 30 percent of your adjusted gross income. Any deduction not usable in the first year can be carried over for up to five additional years or until it is completely used, whichever is first.
In addition, there may be special financial and tax benefits with a carefully planned gift of closely-held stock.
Benefits of Giving Appreciated Securities
- Immediate impact on the Michigan Tech program of your choice
- Additional tax savings compared to cash gifts
- Charitable income tax deduction for current market value
- No capital gains tax