Full Disclaimer & Additional Important Information
This tax benefit estimation tool is being provided as general and educational in nature for illustration purposes only. It is not legal or tax advice. The Giving Block is not able to provide tax or legal advice. This tool should not be used as a basis for making tax and charitable donation decisions. You should consult an attorney or tax advisor regarding your specific legal or tax situation.
Please note that the calculator does not take into consideration all potential factors that may impact your potential tax deduction, including: any local taxes on capital gains, the effects of alternative minimum tax, the taxability of Social Security, capital gains being subject to medicare tax for taxpayers over certain income threshold, any impacts from Medicare premiums, reductions to your tax bracket based on deductibility, state rules related to charitable deductibility and capital gains, limitations on itemized deductions that may apply to certain taxpayers, and other factors. To ensure all factors are addressed, please consult with your tax advisor when making decisions pertaining to your specific situation.
You are solely responsible for the accuracy of all information you provide regarding your capital gains rate, state of residency, and the cost basis and fair market value of your non-cash asset. This tool is intended for use by US taxpayers making donations to US-based 501c3 tax exempt organizations; non-US donors should consult local tax advisors regarding any potential benefits.