Donating appreciated securities – such as stock or mutual funds – to the Greater Hartford Arts Council is a tax-wise approach to providing for children in need. Many donors choose to give gifts to the Greater Hartford Arts Council using long-term appreciated stocks and mutual funds due to the attractive tax advantages associated with such gifts.
The benefits available to you when making a charitable contribution of stock or mutual funds may include:
- Avoiding federal and state tax on the capital gain;
- Receiving an income tax deduction (federal and most states) for the full market value of the gift if you itemize deductions on your tax return and have held the assets one year or longer;
- Making a larger gift at a lower original cost to you.