I will be moving CA to CO by the end of the year and I wanted to donate at least $10000 to my old high school.
I don’t have extra cash to do so, but I have around $20,000 worth of stock I can sell.
1) Should I wait to sell in CO?
2) Are there any tax breaks I can leverage to increase the amount I can give without dipping into my cash funds? I.e Out of $20k, I’d donate $20k-tax owed.
3) Is there a safe way to handle this transaction?
The following questions might be more of legal questions, not sure.
4) How do I ensure the money goes to a certain use? I.e improving the library, upgrading computers, scholarships, etc.
5) The school is part of a large district. Can a single school accept the money from me without going through the board? The last thing I want is the board comes in and says they’ll take the money and distribute it however they want.
Thanks in advance
E: formatting
Submitted June 14, 2020 at 07:51PM by LaikaBauss31 https://ift.tt/2MU84RU
