Gifts of Stock
Donations of stock can be a benefit to you, as well as to The Salvation Army.
An outright gift of long-term securities (owned more than one year) to The Salvation Army in Central Virginia, is free of capital gains tax, no matter how much the value may have risen. Therefore, it’s better to donate appreciated long-term stock outright than to sell it yourself and then donate the money to charity, in which case you would be responsible for the capital gains tax. A gift of stock also allows you to remove the appreciated asset from your taxable estate.