- Income tax charitable deduction for the full fair market value
- Avoidance of tax on the property’s appreciation
- No hassle from trying to sell the property
- No gift tax, plus a reduction of your taxable estate
Are you thinking of selling land or a building? Beware of capital gains tax!
If you sell your primary residence, you can exclude up to $250,000 ($500,000 if you’re married) of the gain. But this tax break doesn’t apply to other types of real estate, so you may have a better alternative.
A charitable contribution of real estate–whether it’s your personal residence, a vacation home, a farm, commercial real estate, or vacant land–will give you numerous advantages.
When you give your home or other real estate to us, you create an enduring testimonial of your interest in our mission. And what’s more, your personal satisfaction is complemented by valuable tax benefits.