Gifts of Stock & IRA Distributions
It is possible to invest in WEAVE’s lifesaving work while reducing your taxable income. You can give through an Individual Retirement Account (IRA) or gifts of appreciated stock.
What You Need to Know to Make a Gift from your IRA Account to WEAVE:
- Gifts can be up to $100,000 and can be from either a traditional or Roth IRA.
- IRA distributions to WEAVE are excluded from your taxable income and satisfy your required minimum distribution for the current year. There is not an income tax deduction for the transfer – the amount is just not included in your income.
- Gift must be initiated by your IRA Administrator and be made before December 31.
- Spouses and partners can also make a gift from a separate IRA account.
- A sample letter to send to your IRA Administrator can be found here.
What You Need to Know to Make a Gift of Stock to WEAVE:
- WEAVE can accept donations of publicly traded stock.
- Your donation of stock may offset your current tax burden. For example, a gift of appreciated stock allows you to deduct the fully appreciated value and avoid paying taxes on the capital gain regardless of original purchase price.
All gifts must be completed by December 31 of the current year to be included in your tax planning. Be sure to start these donations with enough time to complete all the necessary steps.