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Frequently Asked Questions
Who
Should Donate?
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Those that want to help charities
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Anyone that desires an IRS tax write-off
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Uninsured catastrophes
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Businesses with abandoned properties
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Fully depreciated properties
What
Kind of Real Estate Can Be Donated?
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Residential
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Industrial
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Apartments
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Any Type of Mortgages
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Properties Subject to Life
Estates
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Commercial
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Vacant Land
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Hotels
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Any Type of Land Contract
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Sandwich Leases
What
Are The Benefits For Donors?
Donors
receive a receipt for a tax deduction equal to the highest real estate appraisal
of the donated property. The usual headaches associated with selling real
estate with various challenges are eliminated. Donors can feel good about
giving back to their community without stretching their budgets.
How do
I Establish "Fair Market Value"?
The
following rules apply in order to establish a "fair market value" acceptable to
the Internal Revenue Service (IRS):
The IRS requires that all property donated that has a value of five thousand
dollars ($5,000.00) or more have a "qualified appraisal" to establish a "fair
market value". The appraisal must be performed by a "qualified appraiser" and
must be attached to Form 8283 "Noncash Charitable Contributions" and made a
part of your tax return. It is suggested that you keep a copy of the appraisal
as part of your record of contribution.
Give me
some examples of how Real Estate Donations can help a corporation reach
financial and philanthropic goals?
Click here for appraisal
FAQ's
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