Making a gift to Gustavus Adolphus College this holiday season can be a heartwarming experience that will set us up for success in the coming year. Plus, when you make your gifts by Dec. 31, you will see a tax break for this year if you itemize deductions on your federal income tax return. That's not all—depending on the gift arrangements you choose, you can eliminate capital gains tax and reduce your income and future estate taxes.
Timing Is Everything
All gifts must be fully completed on or before Dec. 31 to qualify for an income tax deduction this year.
Cash contributions sent through the mail are usually deductible if they are mailed by midnight on Dec. 31.
Securities are generally deductible on the date they are transferred (if done electronically) to our books—not the date you ask your broker to make the transfer.
Life insurance gifts are considered complete on the date you sign the paperwork transferring ownership to Gustavus Adolphus College, assuming you properly forward the form on to the insurance company.
Real estate gifts, in most states, are considered complete on the date a properly executed deed is delivered to us.
We Can Help
Contact Jackie Peterson at 507-933-7543 or firstname.lastname@example.org to learn how you can get the most from your donation to Gustavus Adolphus College this year.