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To help you understand the benefits of the charitable gifting of real estate, we have illustrated the following options:

Charitable Remainder Trust
This option works best if you have highly appreciated, low-yielding real estate. If you set up this trust, you will receive substantial tax benefits and an income stream for the remainder of your (and your spouse’s) lives. You will also avoid the capital gains tax from the sale of the property and an immediate income tax deduction for the percentage of the fair market value of the property. Click here to see an example.

Outright Gift
If you choose to make an outright gift of real estate, you can establish a donor-advised, designated or field of interest fund, much the same way you can give cash or stock. Your gift entitles you to multiple tax benefits:

A charitable tax deduction for the fair market value of the gifted real estate
An elimination of the capital gains tax due had you sold the real estate directly
An elimination of the potential estate tax on the gifted property

Gift By Will or Bequest
You can also make a charitable gift of real estate through your will. You would avoid potential future estate taxes and your family will not have to deal with the upkeep and sale of the property, liability insurance and property taxes.

Retained Life Estate
If you want to retain the use of property for the remainder of your and your spouse’s lifetimes, you may still be able to give it to the Foundation now and receive an immediate tax deduction for a portion of the current fair market value of the property.