I'm curious as to what other organizations list on their tax receipts/acq letters for gifts of stock. Some people have told me that the IRS allows you to put the stock information on the receipt/letter (for example - name of stock, # shares, hi/low value of stock on the valuation date) but not the exact value that you are crediting to the donor.
Not that I don't believe these people but I'm curious about where they found this information. Can anyone point me to the right place on the IRS website?Thanks,Dale
We record the median value of the stock (avg of high & lo) in our custom tab, along with the number of shares & symbol. We change the date of the contribution to the date we've received the stock. Then our ack letters are worded like so:
Thank you for your stock gift of #OFSHARES shares of SYM with a median price of XX per stock.
Or you can list what the IRS actually says to list with the hi & lo:
Thank you for your gift of #OFSHARES shares of SYM stock which sold at a Hi of XX and Lo of XX.