Donating real estate is a great way to help the Rescue Mission Alliance. If you own property and would like to make a charitable gift, please contact us today. Someone who donates real estate that has been held for more than one year is generally entitled to an income tax deduction equal to the full, fair market value of the donated property. In most cases, the donor can avoid the capital gain tax on the appreciated portion of the property that would have been taxable if the property was sold. Estate tax savings as well as avoiding probate are other possible benefits.
Other benefits include:
- Avoid or diminish capital gains tax
- Receive a charitable tax deduction
- Eliminate selling problems
- Simple to transfer ownership
- No real estate broker fees
- Possible income through an annuity
Questions? Please call Dave Chittenden at 805-201-4347 or email him.
