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FAQs for Donating Stocks

 

1. How do I determine the value of my transferred stock for tax deduction purposes? 

Your tax deduction is determined by taking the average of the high and low price per share of the stock (your broker can provide you with this information) on the day it is transferred out of your account multiplied by the number o shares you donated. Your professional advisor should be able to provide you with this information. The Federation will provide a letter noting the number of shares of each stock we received to serve as record for tax purposes of the donation. You should consult your financial advisor for advice on your specific situation.

 

2. How long does it take for my account to show the deposit of my transferred stock for my donor advised fund, campaign pledge credit, or supporting family foundation?

Stock received is sold immediately with an open sell order we have with all of our brokers. Once sold, a check is issued to the Federation and then deposited into your account or as payment against a pledge you have made. The entire process can take up to 21 business days.

 

3. Which broker and Federation account should I transfer my stock to?

Please see a list of brokers and accounts the Federation uses. 

Please contact Cindy Weik with any questions at cweik@jewishatlanta.org or 404.870.1623.

 

4. Can Federation hold onto stock I transfer or must it be sold immediately?

The Federation does not hold onto stock donated for speculative purposes. All donated stock is sold immediately upon receipt.

 

5. How will I know the stock has been transferred?

You can confirm with your professional advisor that the stock was transferred to the Federation. A letter confirming the receipt of your stock will be sent to you by the Federation. 

 

6. How will I know the stock has been sold?

All stock received into our accounts is sold immediately upon receipt. If stock is transferred at the close of business or after market trading. It will be sold at the soonest moment thereafter.

 

7. Who do I contact if I have questions regarding a stock transfer?

Please contact Cindy Weik at cweik@jewishatlanta.org or call 404-870-1623. 

 

8. What information does the Federation need from me about the stock transfer, and how do I communicate that to the Federation?

The Federation has multiple ways for you to communicate important information about your stock transfer. The Federation needs to know:

  • who is transferring the stock
  • how many shares and the symbol of each stock being donated
  • when it is being transferred
  • from which brokerage house and account
  • and to which of your Federation accounts or funds you would like the stock credited

 

You can relay this information via email to cweik@jewishatlanta.org or to our stock hotline at 404-870-1623. 

 

9. Why should I use stock to fund my donor-advised fun, supporting family foundation or pay a campaign pledge as opposed to a check? 

Donating appreciated stock may be more tax advantageous for you as you avoid any capital gains tax you would normally pay upon the sale of a stock. Please consult your professional advisor for information about your specific situation. 

 

10. If I make a stock transfer before December 31, but it does not post in my account until after January 1, do I get to deduct the stock donation for the prior year?

Your tax deduction is determined by the day the stock is transferred from your account. If you transfer stock on December 31, but the Federation does not sell it or post it to your account until after January 1, you still receive the tax deduction for the year ending December 31. Because December is a very busy month for stock transfers, please transfer as early in the month as possible.