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Donate Odd Lots of Stock

Posted By Jim On 06/13/2007 @ 10:49 am In Investing,Philanthropy | No Comments

Dong [3] left a great idea on my post yesterday about donating stock to charity [4]:

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 [5], 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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[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/donate-odd-lots-of-stock.html

[3] Dong: http://www.askdong.com/

[4] donating stock to charity: http://www.bargaineering.com/articles/donating-stock-to-charity.html

[5] DLM: http://finance.google.com/finance?q=DLM

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