Gifts of real estate
Donors can transfer ownership of residential or commercial property. Benefits include:
- Saving capital gains partial 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.
Retained life estate
Donate your property to ASU Foundation while retaining the right to live on and use the property. This may be the best option for you if:
- 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.
Gifts through wills, trusts or beneficiary deeds
Donors sell property to ASU for less than its market value. The difference is treated as a charitable gift, offering:
- You can include a specific gift of real estate through your estate plan.
- We ask that you reach out and discuss with us before updating your plans to ensure that it is a property we can accept.
- This can be as simple as executing a 1-page beneficiary deed.
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.
- We strongly recommend that you consult with your attorney, tax advisor, and wealth manager to discus your options. ASUF is happy to help facilitate those conversations with you and your advisors.
We strongly recommend that you consult with your attorney, tax advisor, and wealth manager to discus your options. ASUF is happy to help facilitate those conversations with you and your advisors.