Gifts of Real Estate
How it Works
- You deed your home, commercial building, rental property, vacation home, undeveloped property, etc., to Far East Broadcasting Company.
- You receive an income tax deduction for the fair market value of the real estate at the time of the transfer.
- You pay no capital gains tax on the transfer.
- You may be able to use the asset to fund a gift plan that will pay you income, such as a charitable unitrust.
How to Make a Real Estate Gift
When you are considering a gift of real estate, there are two things to remember:
- FEBC will review your generous offer and evaluate the condition and marketability of the proposed real estate to ascertain that the donation is risk-free and appropriate for all parties involved.
- The IRS requires donors of real estate to obtain an independent appraisal to establish the fair market value of the property to be donated.
Contact us if you need further assistance: Sandy Wilson, email@example.com, (562)-448-1756