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Giving a Few Shares: Providing a Faith-Based Education
How Does It Work?
Donor
or broker notifies the Diocese of Sioux City of his/her intent to
donate stock. Notification can be done via telephone, e-mail or fax.
Donor or broker initiates transfer of the stock and to obtain Diocesan account information for transfer.
MLTF assumes ownership of the stock and sells it for market value.
The
donor receives an Iowa tax credit equal to 65% of the average value of
the stock on the date of donation. This tax credit can be applied to
Iowa income tax liability within the next 5 years.
The donor does not recognize the gain from the sale of the stock for federal or state income tax purposes.
Donor
receives appreciated stock value for the donation of the stock for both
the Iowa tuition credit and charitable donation for federal tax
purposes.
Need More Information? Contact the Diocese of Sioux City: (712) 255-7933 or dianed@scdiocese.org
Information
contained in this flyer is not professional or legal advice. Consult a
tax advisor about your individual tax situation.