Charitable gifts of appreciated property, whether real estate or capital gain securities, can provide even greater tax benefits than a cash gift of equal value. You may take a charitable deduction for the full fair market value of the property, while avoiding capital gains taxes. The IRS currently allows you to deduct the full fair market value of the property up to 30% of your adjusted gross income for the year. Any amount over that ceiling can be carried forward for future deduction, for up to five years, subject to the same percentage limitations.
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