Those who own stock that has appreciated might find that donating stock is a convenient and beneficial method of sharing their financial resources. Federal tax laws allow a charitable deduction for the full market value of appreciated securities on the date of your gift. In addition, the you pays no capital gains tax on the appreciated asset. To receive the tax benefits of this type of donation, the stock must be transferred by the brokerage directly to Mercy Haven.
Congress has extended the IRA Charitable Rollover provision of the tax law. If you are over age 70½ and have a traditional IRA, this law allows you to transfer up to $100,000 tax free to charitable causes. The amount you “rollover” to a qualified charity like Mercy Haven counts toward your annual required minimum distribution (RMD) but is exempt from Federal Income tax. Though this type of gift cannot be claimed as a charitable deduction, it has the effect of lowering the donor’s taxable income and therefore may make philanthropic and economic sense for many people. As with gifts of stock, the funds must be transferred by the financial institution from the IRA directly to Mercy Haven.
88¢ of every $1 goes to
Housing and Programs!
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