Gifts of Tangible Personal Property
A gift of tangible personal property can include items such as artwork, jewelry, antiques, and other physical objects. Your gift of personal property can be a beneficial way to support By the Bay Health today or after your lifetime.
You will receive a charitable tax deduction for your gift – and avoid capital gains tax on gifts of appreciated property. If you prefer to retain your property now, you can also give tangible personal property later through your will or living trust.
If the federal charitable tax deduction claimed for a gift of personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.
If you are thinking of making a gift of personal property to By the Bay Health, please contact us to discuss your goals and to ensure By the Bay Health can accept and use your gift of tangible personal property.