Gifts of Real Estate

A gift of real estate such as your home, commercial property, farm or ranch land, or undeveloped land can allow you to give more than you ever imagined.

Benefits of giving real estate

In most cases, avoid paying capital gains tax on the sale of your real estate

In most cases, you receive a charitable income tax deduction for the fair market value of the gifted asset

Steps to Donate Real Estate

·       Consult Professionals: Speak with an attorney, tax advisor, or our friends at In His Steps Foundation to understand implications, especially with mortgages or complex properties.

·       Get an Appraisal & Environmental Review: Obtain a qualified appraisal for fair market value (FMV) and conduct an environmental assessment for potential contamination.

·       Choose Your Giving Method:

o   Outright Gift: Transfer the deed directly to Camp Burton for an immediate deduction.

o   Retained Life Estate: Deed your home now but live in it for life, paying taxes/maintenance.

o   Charitable Gift Annuity (CGA): Get income for life/term, with the remainder going to charity.

o   Handle Mortgages: Donating mortgaged property creates a taxable event; it's best to donate debt-free property.

·       File Taxes: Complete IRS Form 8283 for non-cash gifts over $5,000 and attach it to your tax return. 

For more information and assistance in donating Real Estate and other non-cash gifts contact Ben Lee at In His Steps Foundation, [email protected], 330-528-1785.