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Originally Posted by Sweepsplayer
2. Give securities.
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This is an often overlooked option. And you don't need to be wealthy to take advantage of it.
Last year, we had one mutual fund that had been on quite a run for about 5 years. It had grown tremendously in value and become far too large a part of our portfolio. Rather than selling shares and getting hit with a big capital gains tax bill, we donated shares to our synagogue. They got the full value of the shares. We got a deduction for the full value AND avoided the capital gains tax, saving us a few hundred dollars on a $1,000 donation. Good deal all around.