Real Estate—Outright Gift
You receive a charitable income-tax deduction for the full fair-market value of the unencumbered real estate. You may apply the deduction up to 30% of your adjusted gross income—in the year of the gift—with the five-year carryover provision. You avoid capital-gain tax on the appreciation you have in the property, and there are no gift taxes. Because you have removed the property from your estate, you may also reduce your estate taxes.
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Shawn J. Lyons
Vice President and Director of Philanthropy
859-227-0987
shawn@prichardcommittee.org
The Prichard Committee for Academic Excellence
2285 Executive Drive, Suite 120
Lexington, KY 40505
Federal Tax ID#: 61-1026214
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