IRA or Stock Transfers

 There are tax advantages if you make contributions via a transfer from your IRA, (if eligible for withdrawals), or by transferring appreciated stock holdings for the value of your donations.

  • For many people, the new tax law effective 2018 can dramatically reduce the tax benefits of charitable deductions.

    • Charitable donations can only be deducted if you itemize deductions.

    • Many prior deductible things have been eliminated or pared way back.

    • With the much higher standard deduction ($26,400) you may not be able to itemize because you will not have enough valid deductions to exceed the standard deduction.

  • If you are over 70 ½ years old, you can direct your IRA administrator to send funds directly to the Boys & Girls Club and therefore avoid the taxes that would be due if you first withdrew the funds and then donated to the club.

  • If you have individual stocks that have appreciated, you can gift those shares to the club and therefore eliminate the capital gain that would have been due if you had first sold the shares and then donated to the club.

  • NOTE: Contributions from an IRA or STOCK cannot be used for contributions where you receive something of value.

Click Here for Instructions for an IRA transfer

Click Here for Instructions for a stock transfer