Questions About Donating?
Contact Beth DeRosa at 1-212-668-1000 ext. 1122
Has the stock market downturn taken a toll on your portfolio? By selling stock at a loss and then making a donation to American Liver Foundation of the amount that the stock was sold for, you can claim a charitable deduction for the gift and deduct the stock's decrease in value from your other income, thereby reducing the taxes you pay.
You can deduct up to $1,500 if you are single and $3,000 if you are married, but any amount of loss above that can be carried over to future years until completely deducted.
If you are interested in making this type of gift, we recommend that you consult with your financial or legal advisor on a personalized strategy for your situation.
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