The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Transferring stocks to a charity after ex di||Date: 1/3/2014 3:28 PM|
|Author: foo1bar||Number: 119789 of 122911|
In the end, it is the charity's finance officer, a CPA, who will send me a year end statement and determine the value of the transfer.
That's probably not the best plan.
The charity is not responsible for providing you with the correct value.
The correct value is the fair market value* when the shares were transferred. Not the value when you initiated the transfer (3 days earlier in my experience) And not the value that the charity sells the shares for (which is what I've gotten from a charity I donated stock to)
*fair market value is the average of the high and low for the day (assuming it's a stock that has a liquid market - which most likely we are talking about since you're dealing with a brokerage and it pays dividends, so assumably this is a stock that you can buy or sell on Nasdaq or NYSE or similar)
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|