Claim a deduction for gifts of stock
Before transferring stock
Please visit How to make a gift of stock. It describes two ways to transfer stock to Oregon Food Bank.
Claim a charitable deduction
When you donate stock to a charitable organization, you may generally claim a charitable deduction for the fair market value of the stock on the date of the gift (if you itemize), provided you have held the stock for more than one year.
How to calculate the value of your gift
To value publicly traded securities, calculate the mean between the highest and lowest trading prices on the date you transferred the shares to Oregon Food Bank’s account. Your gift receipt will state the date of the gift and the high and low trading prices on that date.
When you file your income tax return for the year of the gift, you may need to complete all or a portion of IRS Form 8283.
Our policy is to sell all gifts of stock as soon as possible to best fulfill our mission. In some cases, we must notify the IRS of the amount of the sales proceeds.
No capital-gain tax
Because Oregon Food Bank is a 501(c)(3) charitable organization, you won't owe capital gain tax on the shares you transfer to us as a charitable gift.
Our tax ID number is 93-0785786.
IRS limits
While you are allowed a charitable deduction for the full fair market value of the donated stock, the IRS limits how much you may deduct in any one year. Your total deductions for noncash gifts (including gifts of stock) to all publicly supported charities—such as Oregon Food Bank—may not exceed 30 percent of your adjusted gross income. You may carry any excess amount forward over the next five years.
The above information is very general. Consult your tax adviser for specific advice and individual planning.
Questions about gifts of stock? Please contact Gina
Taylor, at 503-419-4193 or e-mail gtaylor@oregonfoodbank.org.
CAUTION: If you are considering making a gift of shares you acquired through the exercise of a stock option, consult your tax and financial advisers before making the gift. Stock options, and stock acquired through stock options, are subject to special rules that may result in adverse income-tax consequences.
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