Do you have real estate and are tired of paying taxes on it but you have been unable to sell? Consider donating that troublesome real estate to Giving Center. Not only will a real estate donation keep you from continuing to paying property taxes, but it may also be a donation write off on your income taxes. Your real estate donation will go towards a great cause which will help communities and families in need.
If you are charitably inclined, donating appreciated real estate offers many great advantages. A real estate donation to a public charity, such as Giving Center, will allow you to deduct the property’s fair market value (FMV) while also avoiding capital gains taxes. But keep in mind that, if you decide to donate real estate property to a private foundation, your deduction will be limited to your cost basis.
Thinking of selling your real estate and then donating the proceeds to charity? Before you sell residential real estate, industrial real estate, or any other types of real estate, consider making a donation or real estate directly charity. There are some major benefits of donating your real estate directly to charity:
- You will receive an income tax deduction for the fair market value of the property.
- A greater gift to charity — charities do not pay capital gains taxes, which means the full value of your gift goes directly to causes you care about.
- Your donation goes towards helping the community and families in need.
Giving Center is an IRS accredited 501(c)3 nonprofit charity. You are able to donate various types of real estate and avoid capital gains exposure because you are gifting — not selling — the property.
Your real estate can be worth more as a tax deduction. To find out more about donating real estate to charity, fill out the donor contact form online and a representative will reach out to you.
No more waiting, end your obligations now. You can receive a tax deduction based on the value of your property while making a difference in the community.
