Gifts of Livestock
Steps to Make a Charitable Gift of Livestock:
Following these specific steps will help ensure that your client receives the intended tax benefits from a gift of livestock. Failure to follow these steps may result in the IRS treating the transaction as a sale by the farmer/rancher resulting in a contribution of cash, rather than as a contribution of livestock. Your client should follow these steps to insure that ownership of the gifted livestock is transferred prior to sale and he or she receives recognition for the gift:
- Contact one of the following individuals at the Nebraska Community Foundation to advise us that a gift is about to be made.
Diane Wilson, Chief Financial & Administrative Officer 402-323-7333 or .(JavaScript must be enabled to view this email address)
Doug Friedli, Director of Community Fund Development-Eastern Nebr. 402-323-7343 or .(JavaScript must be enabled to view this email address)
Jana Jensen, Director of Community Fund Development-Western Nebr. 308-588-6299 or .(JavaScript must be enabled to view this email address)
- Complete the Letter from the Producer Regarding Gift of Livestock (pdf) (doc) notifying us that your client is making a gift of livestock. Indicate the quantity and type of livestock being contributed and the affiliated fund (and related purpose) to which the contribution is directed. Send the letter to the Nebraska Community Foundation, PO Box 83107, Lincoln, NE 68501-3107 with a copy to the treasurer of the affiliated fund to which your gift is directed. NCF can provide the treasurer’s contact information.
- Ask the treasurer of the affiliated fund to send a Contribution Submission Form to NCF including the donor’s full name and address, the quantity and type of livestock that will be gifted (NOT the dollar amount) and the account that he or she wishes to benefit.
- NCF will request that your client deliver the livestock to market on our behalf and will provide him or her with a completed Instructions to Sale Barn for Gifts of Livestock form.
- Your client then delivers the livestock to market on our behalf and provides a copy of the Letter from the Producer Regarding Gift of Livestock and the completed Instructions to Sale Barn for Gifts of Livestock to the sale barn.
- Remind the sale barn to issue the check for the sale of the livestock to the Nebraska Community Foundation and send it to the address in Step 2.
Appreciated “Stock” is Gift to Diller
Al Svajgr
Al Svajgr has been involved in cattle feeding, ranching, farming and banking in Dawson County, at Cozad, since 1977. He is chairman of the Beef Board, a national group of beef producers, so the gift made perfect sense. “All the gain I had in those animals would have been taxable if I’d sold them and then made a cash donation,” he said. “This way, I was able to give more value, because I didn’t have to pay taxes on the capital gains.”
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