If you donate stock that has increased in value since you bought it more than a year ago—and you itemize deductions—you can take a charitable deduction for the stock’s fair market value on the day you give it away.
You’ll also avoid capital-gains taxes on the increase in value over time, which you would have to pay if you sold the stock and then donated the cash proceeds.
In other words, we get a larger gift, and you get a larger tax-deduction!
STOCK TRANSFER INSTRUCTIONS:
Please use the following information to have shares of donated securities donated to the League’s brokerage account.
Brokerage Firm: Charles Schwab
Account Name: Reno Chamber Orchestra
Account #: 5103-2655
Please be sure to notify us of your gift, or ask your accountant or broker to do so, to advise on the name(s) of the stock(s) you will be contributing, approximate number of shares, and expected date of transfer so that your gift can be correctly attributed when it is received.