How to Donate Real Estate to Charity?

 

Most people overlook the possibility of donating real estate to charity. Real estate is an extremely powerful giving asset, and donating it to charity can help organizations a lot. Did you know you can donate all kinds of tangible items such as cars, boats, buildings, even land? Yes, Land!  Donating property benefits you as well as our charity. Embracing Lives Charity is a 501c3 non profit charity which provides you with the tax benefits. You can visit the IRS website listed below for further information regarding tax benefits.  If you are interested in donating property, you should know there are a couple of ways to complete this process. Reach out to us and we can discuss your options and you can decide which is best for you.

 

Direct Gift

 

You can always donate real estate to charity as a direct gift. It is the quickest method of charity in the real estate donation process. The deed or title will be transferred from you to the charity, without any time consuming paperwork.

As the donor, you will be eligible for a real estate donation tax deduction. This deduction will be equal to the fair market value of your property, and it may be carried forward for five whole years. The best part is, you also avoid the Capital Gains Tax, which you would have to pay if you decided to sell your property.

 

What Are the Benefits of Donating Property to a Non Profit?

 

To list just a few:

• No capital gains tax – if you were selling your real estate, you would be required to also pay the capital gains tax. However, when it comes to a charity real estate donation, there’s no requirement.  No matter how big or how luxurious your property may be, you won’t need to pay this tax.

• Charitable income tax deduction – In addition to avoiding the capital gains tax, you will receive a charitable income tax deduction, based on the market value of your property.

• The best part is you’re making a great impact on your communities. Your charitable real estate donation will change many people’s lives for the better.

• You’ll establish a personal legacy for yourself; something your family will be proud of.

​

What can I donate?

​

We accept all types of donations:

• Buildings

• Homes

• Land

• RVs

• Boats

• Cars

• Motorcycles

• Cryptocurrency

• Stocks

• plus more

​

​

For more information you can visit the IRS website at : https://www.irs.gov/publications/p526

​