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Donate Odd Lots of Stock
Posted By Jim On 06/13/2007 @ 10:49 am In Investing,Philanthropy | No Comments
I did this earlier this year. Didn’t cost a thing via E*Trade. I imagine it’s true of other brokerages. It’s a great way getting rid of odd lots. I did this with a bunch spinoff shares that would’ve been expensive to sell.
Back when I owned shares of H.J. Heinz Corporation (whenever I’ve worked at a company, its shares have always gone up while I was there), they sold a portion of their business to Del Monte Foods and thus part of their stock was split into shares of Del Monte. Well, when you have like fifteen shares of a DLM , it’s only worth about $150 – the transaction fees of selling the shares would make it cost prohibitive. Eventually I did end up selling the shares but had I known what I know now, I likely would’ve donated them and saved myself some in taxes.
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 Dong: http://www.askdong.com/
 donating stock to charity: http://www.bargaineering.com/articles/donating-stock-to-charity.html
 DLM: http://finance.google.com/finance?q=DLM
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