Tangible Personal Property

As with gifts of long-term capital-gain securities or real estate, you are entitled to a charitable deduction for a gift of long-term capital-gain tangible personal property such as works of art, rare books, and stamp or coin collections not created by the donor. (Note: The capital-gain tax rate on such assets is 28%.) How much you can deduct depends on the so-called standard of "related use."

Here is how the standard is applied: If the use of the contributed property is related to the exempt purposes of a charity (e.g., a painting to a museum or rare books to a library), you are entitled to a charitable income-tax deduction for the fair-market value of the property.

If the use of the contributed property is unrelated to the exempt purposes of the charity (e.g., stamp collection to the Met to sell and use the proceeds), you are entitled to a charitable deduction for your basis in the property.

A donor who contributes a work of art created by himself/herself is limited to cost basis for the charitable deduction.

Tangible Property

Related Use

Unrelated Use

Fair-Market Value
Cost Basis

Charitable Deduction
Actual Tax Savings (24%)

$ 5,000

$ 4,800

$ 5,000

$ 5,000
$ 1,200

Next Steps

Contact Us

For further information, please contact:

Office of Planned Giving
The Metropolitan Opera
30 Lincoln Center
New York, NY 10023

Phone: 212-870-7388
Email: encoresociety@​metopera.org
Tax ID Number: 13-1624087


For further assistance, please contact:

This publication was prepared by Pentera Inc., an Indiana business corporation, which is independent of the Met. Pentera is solely responsible for its content, and the Met disclaims all liability. The information is intended to introduce certain concepts, and we caution you not to rely on it for any legal, tax, or other purpose. You should obtain the advice of your own legal and tax advisors before making any gift.

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