If you have been thinking about making a substantial gift to University of Lynchburg, consider a gift of real estate. You may give your entire interest in the property or a fractional share of it.
In the year the gift is made, you will be eligible for an income tax charitable deduction. You will escape any capital gains tax that would have been due if the property were sold by you. A gift of real estate to University of Lynchburg may reduce the amount the government can tax your estate upon your death.
- Income tax charitable deduction for the full fair market value.
- Avoidance of tax on the property’s appreciation.
- No hassle from trying to sell the property.
- No gift tax, plus a reduction of your taxable estate.
Giving your property to University of Lynchburg can be an effective way to simplify your financial affairs, freeing yourself of the burden of selling your property later or leaving it for estate liquidation.