IRA and Gift of Stock tips for end of tax year giving
December is a special, yet busy, time of year with family, friend and community gatherings. It's also the end of the tax year for most. Don’t let that overwhelm you as there are a couple of easy and tax-wise methods of making a gift in support of the SCETV and SC Public Radio programs that you enjoy all year-round.
IRA Charitable Rollover
Making a qualified charitable distribution (QCD) from a traditional or Roth IRA has become wildly popular with Endowment members who are at least 70 ½. This QCD will reduce your taxable income and can count toward satisfying your required minimum distributions (RMDs) for the year, all the while maximizing your support for your favorite shows! Simply contact your plan administrator for the appropriate request form, and he/she will make the payment directly to the ETV Endowment. Gift giving made simple!
Gift of Stock
Have you owned stock for more than a year that has increased in value? Contribute a gift of appreciated stock, and enjoy a double tax benefit. You may claim a generous tax deduction for what the stock is worth today as opposed to what it cost you many years ago, and you will also avoid paying capital gains tax on the transfer of the stock. Giving stock to the ETV Endowment is simple. By working with your broker, you can donate stock electronically or by registered mail.
For more information, or to notify us about an incoming QCD or stock, please contact Julie Lonon, Associate Director, at 877-253-2092. We simply can’t thank you enough!