The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Transferring stocks to a charity after ex di Date:  1/5/2014  9:13 PM
Author:  katinga Number:  119810 of 127753

The OP, as far as we know, has been relying on the verbal representations of his broker - not an infallible source.

I talked to the church treasurer today. She's a CPA who's also worked years for a foundation--so lots of foundation/charity experience. She says that the dividend stays with (accrues to?) the shares, and that I will get a statement from the church attributing the dividend to us as a donation.

I wish I had documentation of some form such as you list, Ira, but with the small size of the donation, it's not worth my while retaining someone to do the research. Advise from a CPA with charity experience is about as good as it is going to get in this case, I'm afraid. And I'll have the church statement as a CYA, should I ever get audited. And the church regularly has its books audited, so if there's any question, she'll point out the issue to the auditors.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us