Tangible Personal Property
How It Works
- Please call us to discuss the type of tangible property, possible uses of your gift by NYU Langone, and getting an appraisal
- You receive a charitable income-tax deduction for the full fair-market value of the property if the gift's use is related to NYU Langone's exempt purposes
- If the use is unrelated to our exempt purposes or if it's understood that we will be selling the property, then the deduction is limited to your cost basis
- You receive a federal income-tax deduction for the fair-market value if the gift's use is related to NYU Langone's charitable purposes
- You avoid capital-gain tax on long-term related-use property (capital-gain tax on tangible personal property is 28%)
- You provide significant support for NYU Langone without affecting your income
Special note: You should call or e-mail us to tell us of your intent with regards to the property, and we will be able to assist you with the details of the transfer.
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Disclaimer: The information provided is general in nature and may not apply to all individuals. This information does not constitute legal or tax advice. We urge you to consult with your personal tax, financial, and legal advisors concerning the specific consequences of making gifts to NYU Langone Health. We would be pleased to discuss, in confidence, ways in which you may support NYU Langone Health.