True Cost Estimator IN State - Tax Credit Estimator Use this calculator to estimate the out-of-pocket cost (or true cost) of an SGO donation to the Indiana State Tax credit program after credits and deductions. Please consult a tax professional for a precise calculation. Proposed Gift Amount (type in only a numerical value). If you will not be itemizing deductions on your federal return, the true cost of your donation will be 50% of the donation amount, or: If you will be itemizing on your federal tax return, the section below applies to you. Select your federal tax bracket (scroll down for a chart that shows the breakdown for tax brackets).10%12%22%24%32%35%37% The true cost of your donation is estimated to be: Select the way you intend to give.CheckOnlineAppreciated Shares Appreciated Shares Enter the estimated cost basis of the shares you intend to give (type in only a numerical value). The cost basis of stock is determined by what you originally paid for the shares plus any brokerage fees. Feel free to estimate your cost basis. If you would like a more exact number we encourage you to login to your brokerage account or speak with your broker to determine the cost basis of your appreciated shares. Giving your most appreciated stock will allow you to maximize your savings and the impact of the gift. Long Term Capital Gains Rate (based on taxable income). 0% (single up to $44,625; Head of Household up to $59,750; Married filing jointly up to $89,250)15% (single $44,626 - $492,300; Head of Household - $59,751 - 523,050; Married filing jointly - $89,251-$553,850)20% (single over $492,300; Head of Household - over $523,050; Married filing jointly - over $553,850)Your capital gains rate is determined by your taxable income. Select the rate that best applies to your AGI. The true cost of your donation of appreciated shares is estimated to be: The cost of your gift could be about 16-17% of the donation amount. NOTE: The way that you claim a deduction on Schedule A varies depending on your total amount of SALT deductions. Please contact your tax advisor for more information. Contact Information
