While no one knows what the new tax code will include, we do know that the tax code currently provides incentives for making charitable gifts of marketable securities.
When you make a gift of long-term appreciated securities to a public charity, including the Community Foundation of Palm Beach and Martin Counties, you can:
- Claim a deduction equal to the fair market value of the securities.
- Claim a deduction of up to 30 percent of your adjusted gross income for the year.
- Potentially avoid any capital gain income on the appreciated value of the securities.