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Real Estate
Gifts of real estate frequently save you thousands of dollars in income or estate taxes. We accept gifts of residential, commercial, or undeveloped real estate.
Benefits
Gifts of real estate secure a charitable income tax deduction for you (based on the fair market value of the property) with no capital gains liability for the transfer. If the property is a long-term asset (held for over one year), you receive a charitable income tax deduction based on the appraised value. You may apply the deduction for up to 30 percent of your adjusted gross income and carry it forward for up to five additional years. Furthermore, you are freed from paying real estate taxes, maintenance costs, insurance, and capital gains taxes on the property’s appreciation. You also avoid capital gains taxes on the transfer and remove the asset from your taxable estate.
How It Works
The most suitable method of making a gift of property to Mission Catalyst depends on the donor's individual situation and on his/her goals. The methods of making real estate gifts offer great flexibility in financial planning. The most common options include:
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outright gift of real estate
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gift of real estate using a bequest
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the right to retain tax use of real estate
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bargain sale of real estate
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