Our goal at DonateMyHouse is to instill confidence by tailoring our approach to each donor, making sure the utmost support throughout the process. We do this by remaining transparent and managing all logistics and paperwork. With this in mind, we accept a wide range of ways to gift real estate, from commercial to residential, while handling multiple ownership types.
The donor transfers the deed or title to the charity and receives a tax deduction equal to the fair market value of the donation, while avoiding paying capital gains tax that would result from selling the real estate.
Donors with highly appreciated property should use CRTs to accomplish their goals and ensure future income. Other than receiving an immediate tax reduction upon donating real estate to a CRT, this trust is tax exempt and the proceeds from the liquidated property can be fully reinvested into it. Distributions from the CRT to its beneficiaries are determined annually based on a fixed percentage of the value of the CRT’s assets. At the end of the CRT’s life, the remaining assets are distributed to designated charitable organizations.
The donor sells real estate to a charity for less than the property’s fair market value. As the donor, you are taxed on your gain and may claim a tax deduction equal to the difference between the property’s fair market value and its selling price.
When DonateMyHouse, a non-profit organization, accepts your real estate, you will be doing more than getting rid of unwanted properties, but rather providing a real, taxable donation to a charity in need. As an affiliate of Kars4Kids, DonateMyHouse helps fund year-round youth development and educational programs while providing donors with an efficient, streamlined real estate gift experience.
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Disclaimer: Donatemyhouse.org is an affiliate website of Kars 4 Kids Inc. All donations and information inquiries are processed by Kars4Kids.