Donating stock instead of cash can be a smart way to express your generosity during this extended holiday season. You can donate long-term appreciated stock you’ve held for more than a year. Not only does HFS get to benefit from a valuable item, but you also get to claim the fair market value as an itemized deduction and avoid paying the capital-gains tax that would result if you sold it and donated the cash. A simple, yet effective strategy.
To make a gift of stock, please contact your Financial Advisor and provide the following information for the receiving brokerage firm:
301 North Lake Avenue, Suite 1150
Pasadena, CA 91101-4115
DTC Clearing Number: 0725 FBO
Holy Family Services Adoption & Foster Care Account number: 205D8542
Please note: while we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James does not provide tax or legal advice. Please consult your own legal or tax professional for more detailed information on tax issues and advice as they relate to your specific situation. This is not a recommendation to sell stock.