Gifts of this type can offer you tax advantages (check with your financial adviser).
In most cases giving appreciated stock you’ve held for more than a year is better than giving cash if you itemize deductions. If held for over 1 year you can take the “fair market value” of the stock as the deduction instead of just the amount you paid for it (cost basis). Additionally, you can typically avoid the capital gains taxes on the appreciation of the stock. But talk to your financial adviser for your specific situation.
To make a gift of stocks or mutual funds, please inform us of the company stock/mutual fund you intend to transfer and provide our gift letter to your broker/account manager to transfer the assets to our TD Ameritrade account. Contact Cheryl Klem at cheryl@mvc.life.
Cheryl Klem | cheryl@mvc.life
