OBAT is now accepting donations of stock into its Fidelity Brokerage account. Donating stock to a nonprofit has several tax advantages. You are eligible to deduct the full fair-market value of the asset you donated from your income taxes, up to the overall amount allowed by the IRS. Instead of liquidating appreciated stock and donating its proceeds after paying capital gains tax, you can donate the stock directly. You benefit by not paying capital gains tax and make a bigger impact as the charity receives the appreciated value of the stock.
Donations from any brokerage account can be made into OBAT’s Fidelity account. Please reach us at contact@obathelpers.org if you need further assistance.