As you review your portfolio, you might consider a gift of long-term appreciated securities (stocks, bonds, mutual fund shares). Securities held longer than one year are tax deductible at full fair-market value up to 30% of your adjusted gross income (with 5 year carry forward provisions for any unused deduction). You can avoid capital gains on the appreciation so long as you gift the securities directly to Geneva College, and not just the proceeds from their sale. Click here for the instructions on how to transfer securities to Geneva. You will want to follow the procedures carefully.
The American Taxpayer Relief Act of 2012 extended the IRA rollover provisions through 2013. Congress has yet to renew these provisions for 2014, although there is still the possibility that Congress will extend or even make permanent the rollover provisions which allow you, if you are age 70 ½ or older, to give an outright distribution directly to Geneva.
Gifts can only be made...
This gift is a smart move...
Although an IRA gift during your lifetime can be advantageous, donors should consult their financial, tax and/or legal advisors prior to making any decision.
To discuss the ways you can use real estate to support Geneva’s ongoing mission, please contact Geneva’s Planned Giving Officer
at email@example.com or 724-847-6614.