Gifts of Real Estate
What are Gifts of Real Estate?
By gifting a real estate property purchased years ago, you may be able to take advantage of the appreciated value in the form of an income tax charitable deduction. The property contributed will have a capital gain and the appreciation is by-passed (no longer taxable).
How Gifts of Real Estate Work?
- Leave through a bequest.
- Leave real estate through a will or estate planning.
- The executor of your estate will sell the property and Snowbird will receive the proceeds according to your wishes.
Benefits
- Receive income tax deduction.
- Leverage a Charitable Remainder Trust.
- Claim fair market value Charitable Deduction for the tax year.
Thrivent Financial
As you explore your planned giving options, you should meet with a financial advisor who can help you weigh the pros and cons of different approaches. If you don’t already have an advisor, we often connect legacy donors with the team at Thrivent to discuss their wisest options. With a clear picture of your finances (and the broad range of solutions available), you’ll be well-positioned to make an informed decision.
Thrivent is a holistic financial service organization that provides financial advice, investments, insurance, banking and generosity programs to help clients make the most of resources they’ve been given.