Give Property to AARF PA

Giving to charity is not only personally satisfying, the IRS (and possibly your state) also rewards you with generous tax breaks:

- Current income tax deduction if you itemize, subject to certain percentage limitations for any one year
- Tax benefit received reduces the cost of the donation (e.g., a $100 donation from someone in a 30% tax bracket has a net cost of $70)
- Reduces or eliminates capital gains tax if appreciated property is given
- No transfer (gift and estate) taxes imposed
- Removes any further appreciation of the donated property from your taxable estate

The Best Property to Give

Highly Appreciated or Rapidly Appreciating Property*
Such as:
- Intangible personal and real property (e.g., stock or real estate)
- Tangible personal property (e.g., art, jewelry)

- Easy to give—the type of donation most charities like best
- Be sure to get a receipt or keep a bank record, regardless of the amount

Income-Producing Property*
Such as:
- Artwork (if given by the artist)
- Inventory

Tangible Personal Property*
Such as:
- Cars
- Jewelry
- Paintings

Remainder Interests in Property
- Lets you use the property, or income from the property, until a later date.  Gift and estate tax deductions are not allowed unless a trust is used.  You may only take the income tax deduction in the year that the gift is actually conveyed.

*You may need to have certain types of property appraised.