Tax Benefits of Donating Stocks
Donating stock directly to Samaritan can reduce the tax burden for the donor while increasing the amount of money received by the charity. There are IRS tax provisions that enable some individuals to avoid capital gains taxes on the appreciated stock transfer by claiming a charitable tax deduction for the fair market value of the securities. Because you avoid paying the taxes on the gains of the stock, Samaritan actually receives a larger donation than if you had donated the cash from selling the stock.
Step One
Find out the name of stock and its symbol.
Determine how many shares you wish to donate.
If it is not a publicly traded stock, please contact us at 901-729-3900
Step Two
Request the transfer from your financial institution.
Provide them with: DTC ID# 0226 Corporate Account # 740180695
Step Three
Contact us in advance at 901-729-3900 Ext 8891 or email us at
admin@samaritanmidsouth.org
You will receive a tax receipt and acknowledgment letter from Samaritan. To claim the tax benefits of
donating stock, report the donation when filing your tax return.