Are Gifts to Middlebury Land Trust Tax Deductible?
Gifts of cash, including membership contributions, are fully deductible since Middlebury Land Trust is a publicly supported charity and not a private foundation. Gifts of land or securities are also deductible, subject to the application limitations on gifts of appreciated property. If in any year a Donor’s total gifts exceed the Donor’s deduction ceilings, the excess gifts may be carried forward to a maximum of five subsequent years. Commencing in 1993, the alternative minimum tax no longer applies to gifts of appreciated property to public charities like the Middlebury Land Trust. The tax laws are complex and therefore when making a gift you should consult your tax attorney.
