Gifts of Real Estate
Gifts of real estate
Donors can transfer ownership of residential, commercial or undeveloped property. Benefits include:
- Avoiding capital gains tax on appreciation.
- Receiving a charitable deduction based on fair market value.
- Supporting ASU programs long-term through outright gifts or charitable remainder trusts.
Charitable remainder trusts
Donors transfer appreciated assets into a trust that provides income for life or a set term. Afterward, the remainder benefits ASU. This strategy offers:
- Immediate tax deduction.
- Lifetime income.
- Elimination of capital gains tax on the asset’s sale.
Bargain sales
Donors sell property to ASU for less than its market value. The difference is treated as a charitable gift, offering:
- Partial cash proceeds.
- A deduction for the gifted portion.
- Reduced capital gains tax.
Retained life estate
Donate your property to ASU Foundation while retaining the right to live on and use the property:
- You want to continue to live in your home.
- You do not plan to pass on your home to family or other heirs.
- You itemize your income tax deductions and want to save on income taxes now.
Documentation and compliance
Careful planning and documentation are essential to fully realize the advantages of donating real estate. To maximize tax benefits, donors must:
- Obtain a qualified appraisal for gifts of real estate.
- Complete IRS Form 8283 and maintain proper records.
You have the opportunity to generate income, receive tax deductions and make a difference with a gift of real estate to Arizona State University. We consider several forms of appreciated real estate, including residential, commercial and industrial properties, farms and undeveloped land.
The benefits of your real estate donation abound, and our experienced team of experts is here to help you discover the best strategy for your charitable and financial planning.