Appreciated real estate is a wonderful gift to Rush University Medical Center in Chicago. Keep in mind that if you should sell the appreciated property yourself, capital gains tax due on the appreciated amount may reduce your net gain considerably.

If, however, you deed the real estate to Rush, you should be able to deduct its full market value, including all appreciation, and free of any capital gain consequences. A gift of real estate may be a principal or vacation residence, a farm, a commercial building or unimproved land.

Often such gifts will generate a double tax benefit:

• A charitable income tax deduction for the full fair-market value of the property, as of the date it is transferred to Rush University Medical Center in Chicago.

• Protection from potential consequences on the property’s appreciation.

In order to qualify for the double tax benefit, the property must have been held for more than one year.

For more information about outright gifts, please contact Vicki Woodward at (312) 942-6954 or vicki_j_woodward@rush.edu.