Find Tax Facts
Deductibility
Duke University qualifies as
a "public" charitable organization and meets the requirements of Internal
Revenue Code Section 501(c)(3). Gifts to Duke are deductible at the highest
limits allowed for federal income or estate tax purposes.
Estate Tax Deductions
Testamentary gifts are deductible at 100 percent of
the value of the assets donated to Duke.
Income Tax Deductions
You may deduct gifts of cash (or elect to deduct
only the cost basis of an appreciated asset) up to 50 percent of your adjusted
gross income in a year. Gifts of appreciated assets may be
deducted up to 30 percent of your adjusted gross income. Excess deductions may
be carried over for up to five additional years.
Tax Benefits
The tax benefits associated with specific types of gifts are included throughout the "Gift Plans" section of our website:
- Life Income Gifts
- Charitable Lead Trusts
- Bequests, Retirement Accounts, and Other Testamentary Gifts
- Gifts of Real Estate, Tangible Property, and Securities
- Charitable IRA Rollover
Gifts to the Iron Dukes
The IRS allows a deduction on contributions where there is no benefit to the donor. Receipt of priority consideration for the purchase of tickets at an athletic event will reduce your deduction to 80 percent of the value of your gift. Note that federal law prohibits use of gifts from a donor advised fund or private foundation if tangible benefits, such as priority consideration for the purchase of tickets at an athletic event, are received.
If you would like to support the Iron Dukes and waive any benefits you would otherwise receive, please indicate this desire in correspondence included with your contribution. For questions about the deductibility of your gift to the Iron Dukes, please contact your personal tax advisor.
IRS.gov
The Internal Revenue Service web
page on Contributions (Topic 506) includes links to IRS Publication 526 (Charitable Contributions),
IRS Publication 561 (Determining the Value of Donated Property),
and IRS Form 8283-Noncash Charitable Contributions(.pdf format). Other helpful forms and
publications can be found throughout the IRS website.
Contact Our Staff
The staff in Duke's Office of Gift Planning can answer your specific questions and provide you with detailed gift illustrations that apply to your personal situation.