Transfer Stock To Blue White
Advantages of Appreciated Stock when held a minimum of 1 year
Avoid capital gains tax on the increase in value.
Receive an income tax deduction for the stock's full Fair Market Value (the value of the stock on the gift date, NOT the original stock purchase price).
Example: Stock purchased years ago for $1,000 and now worth $10,000. Making an outright gift to Blue White Scholarship Foundation would result in a charitable contribution deduction of $10,000. Also, there would be no tax on the $9,000 appreciation.
Gifts of appreciated stock are fully tax deductible up to a maximum of 30% of your adjusted gross income. Example: if your adjusted gross income for this year is $100,000, up to $30,000 of long-term appreciated stock and other property gifts may generally be deducted this year. Any excess can generally be carried forward and deducted over as many as five subsequent years.