STOCK TRANSFERS
One of the most attractive ways for you to help Mount Carmel is to make gifts of appreciated stock. It allows Mount Carmel to receive a larger gift and provides you with a tax benefit versus giving cash. If you own appreciated securities, you may gift these shares directly to Mouny Carmel and avoid the capital gain tax you may have incurred if you had sold the shares and donated the proceeds.
Example 1: Gifting Stock Proceeds |
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Example 2: Gifting Stock |
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Purchased XYZ stock |
$1,000 |
|
Purchased XYZ stock |
$1,000 |
Sell XYZ stock |
$1,200 |
|
Gift XYZ stock directly |
$1,200 |
Capital gains tax (assuming 15%) |
$30 |
|
|
|
|
|
Resulting gift & tax deduction |
$1,170 |
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Resulting gift and tax deduction |
$1,200 |
Gifting shares directly to the the school is simple, provides a tax benefit to you, and aids Mount Carmel in their mission. It is possible to transfer shares electronically from your account or to deposit physical stock certificates to fulfill your wishes in gifting appreciated securities.
For more information, contact:
Dan Hack
Senior Vice President - Wealth Management
Smith Barney
Phone: 800-334-2446
Fax: 312-917-7450
dan.hack@smithbarney.com
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