IRA and Stock Distributions

Gift of Stock or Securities

A charitable contribution of stocks, bonds and/or mutual funds that have realized significant appreciation over time is one of the most tax-efficient ways to give. When you transfer ownership of stock held long-term (a year and a day) you may be eligible to receive a charitable deduction for their full market value of the security and incur no capital gains tax.

Give Conveniently Through your IRA

If you are 70½ or older and have an IRA, one of the best ways to support Bay Area Legal Services is through a tax-free gift from your IRA called a Qualified Charitable Distribution (QCD). Contact your IRA custodian to maximize your charitable impact.

Donors can transfer up to $100,000 per year, per person, to charitable organizations from their IRA without the withdrawal being treated as taxable income. The withdrawal can be counted toward your Required Minimum Distribution. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

For Individuals 59½ Years or Older

If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

At Any Age

No matter your age, you can designate Bay Area Legal Services as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. To do so, contact your IRA custodian for a change-of-beneficiary form or download a form from your provider’s website. Then, notify our Development Office to be listed as a member of our Legacy for Justice Society of planned gift donors.

Questions?

Contact our Development Office at 813-232-1222 ext. 182 or at development@bals.org.