Gifts of Real Estate, Tangible Property,
and Securities
If you make a gift of real estate, tangible public property, or non-publicly traded securities, you will need to complete IRS Form 8283 (.pdf format) for your personal income tax return.
Gifts of Real Estate
A gift of real estate may be a principal residence or vacation residence, a farm, a commercial building, a subdivision lot, or unimproved land. The gift may be the entire property or a fractional interest in the property. You can claim a charitable tax deduction for the full fair market value of the real estate and avoid capital gains taxes on the appreciation. All gifts of real estate require approval by Duke's Gift Policy Committee. Learn more about the approval process.
Retained Life Estate
You may generate a current income tax deduction by giving a home or farm to Duke, while retaining the right to use the property during your lifetime. The property will also be removed from your taxable estate. Contact Duke's Office of Gift Planning to discuss this gift opportunity in more detail.
Gifts of Tangible Property
If a gift-in-kind is related to the "charitable purpose" of the university, which is quite broad for educational institutions, you may be eligible for a deduction of the asset's full fair market value. Examples of gifts-in-kind include laboratory equipment, art work, special collections, furnishings, machinery, computer equipment, and software. Certain gifts of tangible personal property, including art work, require approval by Duke's Gift Policy Committee.
Gifts of Securities
Gifts of appreciated stocks, bonds, or mutual funds held for more than one year can provide special tax advantages. You can claim a charitable tax deduction for the full fair market value of the securities donated to Duke and will never have to pay capital gains taxes on the appreciation. For gifts of publicly traded securities, the deduction is determined by taking the average (or "mean") between the high and low trading prices of the security on the date of the gift (or the nearest trading date(s)). Securities held for less than one year may also be donated, but the deduction is limited to the lesser of cost basis and fair market value. Contact the Office of Alumni and Development Records to arrange a stock transfer to Duke.
Closely held stock, Subchapter S corporation stock, limited liability company interests, and partnerships can sometimes be used to make a charitable gift. Any proposed gift of such assets should be reviewed with Duke University and your tax advisors in advance. An S corporation, limited liability company, or partnership may also donate specific assets, and the deduction will be divided among the shareholders or members.