One of the advantages to the donor is that the size of the tax deduction is determined by the current market value of the property, as opposed to the cost of the property when it was purchased (Moreover, by donating a property instead of selling it outright, donors may avoid paying brokers' fees.)
In many cases, if one takes into consideration ongoing property taxes, maintenance costs, income taxes--or if the property is sold, the cost of legal fees, brokerage fees, estate taxes, inheritance taxes and capital gains taxes--it is often financially preferable to donate properties to charities. It also saves heirs the trouble of trying to divvy up the gains if the will is potentially contentious or inequitable. Sometimes there are intangible benefits as well.
Real Estate donations can provide you with highly beneficial tax results and allow you to achieve significant and important charitable goals that benefit those in need.
A donation of real estate to NC Property Network, on behalf of our charities can reduce your tax burden and provide you with the benefit of savings that comes from relief of the maintenance of your property. You can also avoid capital gains tax on highly appreciated properties with your charitable donation of real estate.
You can significantly reduce your legal and tax liabilities on the properties you donate and more efficiently attain personal financial goals white also supporting our charities.
Real Estate - Who Should Donate?
Those that want help improve the communities in which they live.
The benefits of an IRS tax deduction are quite an attractive prospect. And you can make a positive difference for others less fortunate as well.
Businesses with properties that are idle, lacking positive cash flow and are assets that will never reach any useable potential.
Fully depreciated properties that do not serve the financial interests of the donor.
Uninsured catastrophes that are more a detriment financially to continue to maintain.
A real estate donation is a winning situation for all involved. When you donate a house to charity, people in need win, charitable organizations win, and you—as the house donor—win big, too through personal satisfaction and a substantial tax deduction.
Your contribution to NC Property helps us continue to develop and maintain safe and healthy housing for those most in need: veterans, low to moderate income working families, seniors and those with disabilities.
Whether you prefer to make a one-time contribution, create a monthly giving plan, donate a house, land,land contracts, real estate notes, building materials, donate a car, stock or other in-kind items, we’re happy to answer any questions you might have.
NC Property Network is a registered 501(c)3 organization.
Your gift is tax deductible to the extent allowed by the law.
Please call us at: 1-866-343-5150 or fill out our contact form.
NC Property Network
4002 Barrett Dr Suite 201
Raleigh, NC 27609
The Next Campaign to End Veterans Homeleness! For information on how to participate, please contact us.
Connect with us on Facebook & Twitter to learn about upcoming projects and volunteer opportunities.