Whether it be residential, commercial, or undeveloped property, gifts of appreciated real estate interests represent a powerful form of charitable support. By giving real estate, you can potentially reduce or eliminate the capital gains taxes you might otherwise incur by selling the property—leaving more for charitable giving. Real estate gifts are typically tax deductible, opening up even more giving opportunities.
Why give appreciated real estate?
- Increase your giving potential by claiming fair market value for the current tax year.
- As a non-cash asset, real estate gifts may be eligible for deductions as high as 30% AGI.
- Strengthen your grantmaking ability through efficient use of reduced taxes on future income while the property is in the Faithful Journey Foundation’s.
- Minimize potential capital gains taxes on a future sale by the Faithful Journey Foundation.