TYPES OF REAL ESTATE YOU CAN USE FOR A GIFT

BENEFITS FOR GIFTS OF REAL ESTATE 

Income tax charitable deduction

            Tax savings generated by a real estate gift effectively lower the cost of the gift.

Avoidance of capital gains taxes

            When using real estate for a charitable gift, you avoid capital gains taxes ordinarily due upon the property’s sale.

Property taxes and maintenance costs

            By making an outright gift of property, you also can avoid property taxes, insurance payments, and other costs (unless you maintain lifetime rights to the property).

Estate taxes

            Using real estate to fund charitable gifts can help you avoid future estate taxes.

STEPS TO COMPLETE A GIFT OF REAL ESTATE

1. Appraisal. A qualified appraisal is needed to claim tax benefits.
2. Environmental survey. Real estate must be environmentally clean before accepted for a gift.
3. Deed. A deed must be prepared to transfer the property to the ministry of the church.

These steps are simplified with support of the Mission Office for Planned Giving and the Foundation of Evangelical Lutheran Church in America (ELCA) www.elca.org/fo.  Contact us for a personal illustration with no cost or obligation on your part.