Stock Contribution Receipt Explanation
Gifts of Publicly Traded Securities are identified in the Contributions section of a donor advised fund. You can find gifts of stocks to a DAF in the Contribution History section with the Type label "Security."
After a gift of stock is liquidated into a corresponding donor advised fund from the broker and matched using the submission of The Signatry's Stock Contribution Notification Form, a Contributions Receipt is issued to the donor. These receipts can be found in the Documents section of a DAF and look similar to below.
The contribution receipt may show the units of stock and the date received. Contribution receipts will not show a listed dollar value.
Why Does The Signatry Not Include Values on Stock Receipts?
Proceeds amounts from the unit(s) of stock donated can be found by clicking on the contribution transaction line item in the Contribution History. However, the proceeds amount may not best represent the amount needed for tax filing purposes. You should consult with your tax advisor to best determine the value of the donation for tax documentation.
The contribution values for a donation of a security on the contribution transaction history, contribution tax lot section, and on fund statements should NOT be used in tax document preparations.
The amount listed for gifts of publicly traded securities on statements reflects the value at the time of contribution, which is calculated using the average of the high and low price for the day on which the contribution was received. The actual proceeds of the sale of securities may differ from this value.
A myriad of factors may be used in tax preparation and determining securities gifts, including average pricing, the price and date at which you bought the security, the proceeds amounts, adjusted gross income limits (AGI), units sold, and liquidated amounts. You should consult with your tax advisor to best determine the value of the donation for tax documentation.
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