Gifts of Real Estate
A residence, vacation home, farm, acreage, or vacant lot may have so appreciated in value through the years that its sale would mean a sizeable capital gains tax. By making a year-end gift of this property instead, you would avoid the capital gains tax, and, at the same time, receive a charitable deduction for the full fair market value of the property.
It is also possible to make a gift of your home, farm, or vacation home so that you and your spouse can continue to use it for your lifetimes – while you receive a tax deduction for 2012. Please give us a call for details.