Stock or Mutual Funds
Appreciated securities allow you to give away the security to LCFS and usually avoid the income tax on the gain. As with most income tax matters, there are certain limitations set within the Internal Revenue Code.
- Gifts of appreciated securities are deductible up to thirty percent (30%) of your adjusted gross income. You may carry forward this deduction for up to five years.
- You must have owned the appreciated security for a long term holding period, usually twelve months or longer.
- Within limitations, you may choose to qualify for the fifty percent (50%) deduction of your adjusted gross income by reducing the full value of your appreciated gift to its costs basis.