Stock Contribution (Transfer) to 501C Church Organization
I transferred stocks to a church 4 years ago but they are not able to obtain the required medallion in order to sell the stocks and access the funds. Another church was successful however there is some nuance to this church’s 501C status. Is there anyone you know who may be willing to assist this
Terry Says
I assume you took a tax deduction when you made the contribution. The Church should have sold the stock
Immediately. I hope they did not leave the shares in your name, or you may be drawn into this.
The Church should have its own tax advisor. It’s shocking that they don’t as there are forms to be filed annually.
I suggest they find an “enrolled agent”
Search here: https://taxexperts.naea.org/expertdirectory
