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By making a gift of real estate to The Jewish Community Foundation,
you can make a significant contribution while avoiding capital
gains or estate taxes.
There are many ways to make a real estate gift. You can donate
real estate outright, or use it to establish a charitable
remainder annuity trust or charitable
remainder unitrust.
You can even reserve the right to live in your home for life.
Alternatively, if you have a vacation home, you can convey
a fractional interest in it to the Foundation, which allows
you use of the property for part of the year.
Tax benefits
- Outright gifts: you can receive a current income
tax charitable deduction and avoid capital gains taxes.
- Charitable remainder trusts: you can avoid capital
gains tax on any appreciation, take a current income tax
charitable deduction based on the present value of Foundation's
remainder interest, and receive annual income from the charitable
trust.
- Lifetime transfers: by transfering the deed to
your primary or secondary residence to the Foundation while
reserving the right to live in it, you can avoid any tax
on the value of the property (including the capital gain),
generate a current income tax charitable deduction and remove
the property from your estate, thereby reducing estate taxes.
If, in the future, you decide to move, you can relinquish
the life estate to the Foundation and obtain an additional
charitable income tax deduction.
- Fractional interest: If you donate a fractional
interest in your vacation home to the Foundation, you can
take an income tax charitable deduction equal to the contributed
fractional interest of the fair market value of the property,
while retaining the right to use it for part of the year.
At a glance
- Creates a significant gift to the community
- Can be given outright, or used to create a charitable
trust
- Offers benefits in capital gains, income and/or estate
taxes
- May be structured in a variety of innovative ways, including
allowing lifetime use of the property
More:
>>
Guidelines for the acceptance of real property
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