0
What else can I help you with?
What is the donor's adjusted basis of the gift?
The donor's adjusted basis of the gift is the original cost of the gift, adjusted for any changes in value or improvements made to the gift before it was given.
What is the cost basis for a stock gift?
The cost basis for a stock gift is the original price paid for the stock by the person who gifted it.
What is the Fidelity Charitable Gift Fund used for?
The Fidelity Charitable Gift Fund main purpose is to provide other charities and donors programs that will help them make charitable giving simple and easy.
What is the format for a cheque gift deed?
A gift deed is typically needed as documentation for tax purposes when a check gift is give. The deed should include a statement that says that the check was voluntarily given, list the value, and be witnessed.
What is the CVV number on a gift card used for?
The CVV number on a gift card is used for security purposes to help verify the cardholder's identity during online or phone transactions.
What is the donor's adjusted basis of the gift?
The donor's adjusted basis of the gift is the original cost of the gift, adjusted for any changes in value or improvements made to the gift before it was given.
What cost basis should I use to figure out capital gain for stock which was a gift?
If the fair market value (FMV) of the stock was greater than the donor's adjusted basis at the time of the gift, your basis is the donor's adjusted basis plus any gift taxes paid at the time of the gift. http://www.irs.gov/faqs/faq-kw77.html
What is the cost basis for a stock gift?
The cost basis for a stock gift is the original price paid for the stock by the person who gifted it.
What is the Fidelity Charitable Gift Fund used for?
The Fidelity Charitable Gift Fund main purpose is to provide other charities and donors programs that will help them make charitable giving simple and easy.
Should family send a personal thank you to donors who give a gift to a foundation in the name of a deceased person?
Yes. Be sure to write, do not email.
A gift to a corporation is treated as a gift to the what?
A gift to a corporation is generally treated as a gift to the corporation itself, which is considered a separate legal entity. This means that the corporation can receive gifts in its own name, and these gifts do not typically have personal tax implications for the individual donors. However, the treatment of the gift may depend on specific circumstances, such as the nature of the gift and the relationship between the donor and the corporation.
Is a gift tax deductible?
No. In fact there may be a tax - the gift tax - that needs to be paid by the one giving it...although if done properly it can normally be easily avoided.However, in the case of property whose value at the time the gift is given exceeds the donor's basis, a portion of the gift tax paid can be used to increase the basis of the property in the recipient's hands. I won't go into the rules for calculating the how much of the gift tax is added to the basis, it's rather complicated. But increasing the basis does have the effect of decreasing the amount of taxable income the one you give it to will have when they sell the property.
What is the tax on a one million dollar gift of money?
It depends on your domicile for taxation purposes.
How will Operation Unflag get someone's gift card to them?
Usually we mail them... although with some gift cards it is possible to email them. That would have to be worked out on an individual basis.
At the conclusion of a GRAT what is the cost basis of the stock for the beneficiary grantors original cost or grantors cost on the date GRAT started or cost on the date of transfer to the beneficiary?
Cost basis is equal to cost basis of original grantor plus any gift tax paid (the same as if the beneficiary had received the stock directly as a gift)
Is a contribution to a qualified tuition plan considered as a gift of present interest?
No, a contribution to a qualified tuition plan is not considered a gift of present interest. It is typically treated as a completed gift for gift tax purposes because the donor has made a transfer of ownership to the beneficiary.
What is the format for a cheque gift deed?
A gift deed is typically needed as documentation for tax purposes when a check gift is give. The deed should include a statement that says that the check was voluntarily given, list the value, and be witnessed.
