Stock and IRA Distributions

Stock and IRA Distributions

Did you know that gifts to Zion can include Stock Transfers and IRA Qualified Distributions?

Yes, although it is not a common occurrence, Zion occasionally receives gifts of Stock Transfers and IRA Qualified Distributions from benefactors.

Giving of appreciated stock to charity offers some additional tax benefits compared to donating cash. As described in a 2018 Forbes article, appreciated stock held for more than one year can be donated without triggering long term capital gains. The giver is able to deduct the fair market value of the stock at the date of transfer (not the cost basis). With a charitable gift of appreciated securities held long-term, the donation made by the giver and the deduction the giver can claim are greater than they would be if the giver were to sell the shares and donate the cash proceeds instead. That is because when shares are donated, it avoids the capital gains tax.

Qualified Charitable IRA distributions offer similar tax advantages. For people who are required to take a minimum distribution from their IRA, and especially for those where the minimum distribution would otherwise elevate them into a higher tax bracket, taking advantage of the Qualified Charitable IRA distribution can have many advantages.

If you wish to learn more about these giving options at Zion, please contact the Church office or our Financial Administrator for the specifics of how to take advantage of these opportunities.

As with all financial and tax considerations, please discuss this opportunity with your financial planner or tax preparer before initiating such a gift to determine the best strategy for your specific situation.

We are merely stewards of His precious resources.

zion
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