Real Estate Gifts

If you are considering ways to make charitable gifts more successfully, many have found that real estate gifts can have special benefits for both the donor and recipient. Real estate can be a practical and beneficial gift, regardless if the property has increased or decreased in value.

Do you own your own home or other property that you no longer inhabit or maintain? Giving a charitable gift of real property is an efficient way for your property to meet both goals.

When selling real estate that you have owned for years, it is probable that you will be faced with a considerable capital gains tax, particularly if you do not reside there.

Through an outright gift of this property, you may benefit from a double tax savings. First, you can receive a charitable income tax deduction for the value of your property. In addition, since the property was given as opposed to being sold, you will not be liable for capital gains tax on the transfer.

Charitable gifts of real estate provide income to you for life. Several options are available, including fixed or variable income, depending on your needs.

Whatever type of gift is chosen, it is possible to avoid capital gains tax on the increased value of the property when the gift is made, in addition to a current income tax.

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