Oklahoma Baptist Homes for Children

 

Gifting Stock: Stock Quiz

True or False:

1. _____ Only stocks traded on the New York Stock Exchange can be used to make charitable gifts.

2. _____ For tax purposes, it is normally better to sell long-term appreciated stock and give the cash to Oklahoma Baptist Homes for Children.

3. _____ The value of a stock gift is determined on the date when Oklahoma Baptist Homes for Children receives a letter from the donor indicating his or her decision to make the gift.

4. _____ If you buy stock in January and in three months it doubles in value, you can give the stock to Oklahoma Baptist Homes for Children in June and avoid paying capital gains tax on the appreciation of the stock.

5. _____ It is normally better to give stock that has depreciated in value rather than stock that has appreciated.

6. _____ For tax purposes, the value of a stock gift equals the amount of cash received by Oklahoma Baptist Homes for Children after it sells the stock.

7. _____ Most stock gifts require legal assistance to complete.

If you answered all of these questions "false" you may move to the head of the class. On the other hand, if you used the "T" word, or were unsure of any of your answers e-mail Neal Wooldridge, Vice President for Planned Giving, or call his office toll-free at 1-800-942-3559, extension 665. As always, your inquiry will be treated confidentially. We want you to know the advantages of stock gifts and how easy these gifts are to complete.


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