Q&A: Charitable donations

Question: Is it better to donate $15,000 worth of mutual fund units that were purchased for $12,000 or just to give a charity $15,000 cash after selling the units? – K.C.

Gordon Pape answers: Donate the units. That way, there will be no taxable capital gain on the proceeds.

Do you have a money question you’d like to ask Gordon? Send it along and then check out our Q&A section regularly to see if it was chosen for a response. Sorry, we cannot send personal answers.

Photo ©iStockphoto.com/ DNY59