Gifts of stocks and mutual funds are tax deductible ways to help homeless kids through Qurbani Foundation.
The advantages of contributing appreciated stock are clear… you can save twice when you make a gift of securities.
First, you can save capital gains taxes if you use appreciated securities to make your gift to Qurbani Foundation. The full value of your securities will help our kids and the capital gains tax triggered by the sale of the stock is avoided.
Second, you can deduct the full value of the stock as a charitable contribution. This lowers income tax and further lowers the effective cost of your gift.
If you are interested in making this type of gift, we recommend that you
consult with your financial or legal advisor on a strategy for your individual
situation. For general information on these types of gifts, you can contact our
Planned Giving department toll free at 1.800.900.0027, or email us at firstname.lastname@example.org.
By selling stock at a loss and then making a donation to Qurbani Foundation in the amount that the stock was sold for, you can claim a charitable deduction for the gift and deduct the stock's decrease in value from your other income, thereby reducing the taxes you pay.
You can deduct up to $1,500 if you are single and $3,000 if you are married, but any amount of loss above that can be carried over to future years until completely deducted.