CHARITABLE GIFT OF REAL ESTATE - A WIN-WIN SITUATION
By Eric Weitzen
Dear Friends,
The steady rise in the value of real estate in San Diego County over the years has made appreciated real estate an ideal asset for a charitable gift.
Suppose you own some real estate which you bought many years ago for $50,000, which is now worth $400,000. You can give that real estate to Congregation Beth Israel and claim an income tax charitable deduction for the full $400,000 fair market value. At the same time you avoid the recognition of capital gains tax on the $350,000 of appreciation.
Congregation Beth Israel can then sell the real estate without incurring a capital gains tax and use the entire net sale proceeds for its charitable purposes, while you reap significant income tax benefits as a result of the charitable gift.
Consider the advantages presented by the donation of appreciated real estate to Congregation Beth Israel.
Shalom,
Eric Weitzen
If you are interested in a confidential appointment to explore ways in which you may wish to make an endowment gift, please contact Stuart Simmons, Executive Director, at 858-535-1111 ext. 3113.
Merle Brodie, a member of our congregation and our Endowment Committee, serves as Director of Philanthropy at the Jewish Community Foundation. If you are interested in learning more about tax saving strategies through charitable giving, please call Merle at 858-279-2740.Return to articles about endowment go to top
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