Stock Donation to Charity/New rules

Discussion in 'UPS Discussions' started by 36girl, Nov 19, 2003.

  1. 36girl

    36girl Guest

    Recently retired, out of the loop!! Can anyone tell me what the new rules are for donating UPS stock to charity? Thanks
     
  2. Raw

    Raw Raw Member

    Sell the stock, deposit in your checking account, then write a check for your charity! :tongue_sm
     
  3. 705red

    705red Browncafe Steward

    Raw just because you worked for H and R block for 1 summer doesnt mean your a financial investor now.
     
  4. NO!!!!
    Do NOT sell the stock and then write a check from a portion of the proceeds to the charity.... you will have to pay capital gains taxes. Instead donate the stock to the charity directly and have the charity sell it. You avoid ALL capital gains taxes that way AND can still get a deduction on 1040 schedule A for the FULL market value of the donation. Just make sure you submit form 8283 "non-cash contributions" with your tax return.
     
  5. j13501

    j13501 Member

     
  6. Channahon

    Channahon New Member

    36 Girl

    If you do not have Mellon holding A shares for you, whoever is holding your B shares can do the same.