Collectibles to Charity?

Physician's Money DigestAugust15 2004
Volume 11
Issue 15


The maximum capital gains tax biteon stocks has been lowered to 15%, buton collectibles that have gone up invalue, it's still at 28%. That makes collectiblesa prime choice for a donation tocharity. If you give an art object valuedat $10,000, but cost you just $1000, younot only avoid the capital gains tax onthe $9000 profit, but you also get towrite off the full value as a charitablededuction. When you give goodsinstead of cash, it's up to you to figureout how much an item is worth. Foritems worth more than $5000, you mustget an appraisal from a professional andattach it to your tax return along withIRS form 8283, Noncash CharitableContributions (

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