INFORMATION FOR GIFTS OF STOCK - seattleu 2025

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You can utilize an excel document or another method as long you can easily categorize the following information to prepare nonprofit accounting for stock donations: The date on which you received the donation. The symbol for the donated stock (also called the ticker) The stocks value on your receipt date.
Your cost basis of a gift is usually the same as the givers basis, but the actual basis to report may depend on how the assets value has changed over time. If the assets value increased between the time it was originally purchased and the time it was gifted to you, your basis will be the same as the givers basis.
As of 2024, the IRS allows you to gift up to $18,000 per year, per person including stock. Married individuals who file jointly can gift up to $18,000 each in 2024, for a total of $36,000 to any single recipient. That limit rises to $19,000 each in 2025. These limits arent bound by familial or marital ties.
When a person receives a gift of stocks, they assume the tax liability on any earnings previously accumulated on the stock, says Toni. On the other hand, they do not have to pay taxes on those profits until they sell the stock.
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