Gifts of certain types of appreciated assets, such as securities and real estate, are very popular and may provide the donor with even greater tax benefit if held long term (more than one year) than a gift of a comparable amount of cash. While the donor continues to benefit from a charitable deduction for the full, fair-market value of the gift, there may be an additional benefit if the tax on the unrealized gain in the gifted property is avoided.
Donors may also choose to gift an item of personal property, such as art works or special collections, books, and rare and unique items. Provided the gift asset is used for the university's charitable purposes, the full market value of such a gift is deductible for the donor; otherwise, it is limited to its adjusted cost basis. Before the university can accept a gift of property, UNLV must ascertain that the type of gift is consistent with the mission and purposes of the institution.
Due to the favorable tax treatment of gifts of tangible personal property, with proper planning, such a gift may result in a larger capital gains tax savings than other long-term appreciated property. Our staff is available to work with your advisors on planning such a gift so you realize the maximum tax benefits.
The material presented on the UNLV website is not offered as legal or tax advice. Please consult your personal tax advisor or attorney concerning the specific consequences of your gift.