You can gift marketable stocks or mutual fund shares to the Library, which may offer you important tax benefits. We recommend that you consult your tax advisor for more information regarding the gift tax and income tax results of such gifts as they apply to your specific situation. The Library does not provide donors with individual tax advice, but securities options include:
- Selling your appreciated securities and donating the proceeds to the Library. If your securities have decreased in value since you acquired them, it may be to your advantage to sell them, report the capital loss deduction and donate the proceeds.
- Transferring your appreciated securities to the Library’s Endowment. You will not incur sales expenses and your transfer will not generate a taxable capital gain.
- Funding a charitable remainder trust or a charitable gift annuity at the Library. If you hold highly appreciated but low-yield stocks, we can convert the stocks to become investments and provide you with a long-term income stream while minimizing your taxable capital gains.
A gift of land, a house or a vacation home results in a tax deduction. Through a Retained Life Estate plan, you may deed your home or farm to the Foundation and yet continue to reside in and maintain the property for your lifetime.
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Source URL: https://www.kclibrary.org/support-the-library/other-ways-to-give