Gifts of Stock
A gift of stock entitles you to a tax deduction for the market value of the donated stock (not just your cost basis). If the stock has been held for more than one year, you can avoid capital gains tax on any appreciation of the stock by donating the stock prior to sale. HSWM benefits by selling the stock without paying taxes on the gain, and you benefit from making a contribution that would be larger than you might have been able to donate in cash. The value of your gift is the average price of the stock on the date the stock was transferred to HSWM.
Please contact HSWM before making the transfer so that we can be sure appropriate steps are taken and you receive proper tax documentation. We can also provide you with HSWM’s account information which your broker will need to make the transfer. To avoid capital gains tax liability, you must transfer the shares to HSWM as opposed to selling them.
Contact Kate Geranios at 406.381.7477 or Lora O'Connor at 406.543.2633.