Tax Benefits and Ongoing Income Can Be Benefits of Real Estate Donation
Are you a snowbird with a second home that you may be using less and less and are tired of maintaining? Do you own investment real estate such as rental homes, apartment buildings, apartments or commercial property? Often, people who own real estate get tired of managing it, yet they rely on or want to obtain an income from that asset, especially in their latter retirement years.
National Jewish is in a position to accept gifts of real estate and, in exchange, provide an income stream to you. For many people, this is a very attractive way to obtain nice tax benefits. You could earn a high rate of income, unload an asset that is time consuming and frustrating to manage, and perhaps make a gift to one of your favorite charities.
We have many examples of recent gifts of real estate that may be of interest to you, including:
- $900,000 apartment building, now generating an annual income of $81,000
- $225,000 home from a man who retained the right to live in it for the rest of his life, but wanted to make the gift and obtain the tax benefits during his life
- $100,000 home from a woman who moved into a retirement facility, given on an outright basis
- A $225,000 farm in Missouri given through a will
- A partial gift of a condominium in New Jersey; the condo was worth $300,000 and the outright gift to National Jewish was $54,000
If you have an appreciated piece of real estate and are interested in supporting the world-class research and patient care that has allowed National Jewish to become the number one respiratory hospital in the country since 1998, we would very much like to hear from you to discuss your options. Thank you for your consideration.
