Non-cash assets such as securities and real estate are also suitable as outright gifts. If the asset you give has appreciated in value, and you have owned it for more than one year, you not only receive an income tax charitable deduction for the full fair market value of the property, but you may also avoid all tax on the capital gain.

Example: John Doe contributes shares of stock valued at $15,000 for which he paid $3,000 some years ago. If he were to sell the stock, he would be taxed $2,400 on the capital gain (20% of $12,000.) By contributing the stock to The Blood and Tissue Center of Central Texas, he avoids tax on the gain and receives an income tax charitable deduction for the current value of the stock. In his 31% bracket, he saves $4,650 in income taxes. His total tax savings is $7,050, and the net cost of his $15,000 gift is only $7,950.

If you have any questions about giving non-cash gifts to The Blood and Tissue Center, please call Vicki Vinterella, Director of Development, at (512) 206-1210.

 

Please note that the information provided on this site is general in nature. For specific information with respect to how your personal giving will be treated for tax and other financial purposes and how to remember us in your will, please contact a tax, accounting, and/or legal professional.