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Tips to Keep in Mind for End of Year Giving | 20-Oct-2016

What to do in order to ensure you can claim a charitable deduction for 2016:

  • For donations of cash (including checks), your donation must be either postmarked or personally delivered to the not-for-profit organization on or before December 31.
  • For donations of stock, your stock must be transferred out of your account on or before December 31.
  • For donations via credit card, your credit card donation must be processed on or before December 31.

    Donating long-term appreciated securities can provide additional tax benefits
  • When you donate long-term appreciated securities, you can claim a charitable income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
  • You pay no capital gains tax on the transfer.

If you would like to make a donation of stock please contact Lisa Stanger, Executive Director of the Jewish Foundation (203-387-2424, x382; lstanger@jewishnewhaven.org) for the Foundation’s stock account information.

For example, if the securities originally cost $2,000 and now have a fair market value of $10,000, you do not pay tax on the $8,000 gain and you may claim a charitable income tax deduction for $10,000.

How do gifts of cash and securities compare?

 Gift of $10,000 Cash

Gift of $10,000 Securities

 Gift Amount



Initial Cost Basis of Securities/Appreciation

 Not applicable


Capital Gains Tax Saved or Paid, Assuming 20% rate*

Not applicable


Ordinary income tax savings (35% tax bracket x value of gift)**




Net tax savings
(ordinary income + capital gain)



*Please note: A different tax rate may apply to you and, accordingly, the charitable benefit you receive may vary.  **Gifts of securities may be deductible up to 30% of your adjusted gross income, however, excess deductible amounts may be carried forward for five years. Please consult with your own professional to determine your specific situation.


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