Anyone Ever Donate Property to Charity?

[Joshua Dorkin]

In this challenging market for sellers, I was wondering if anyone had any experience donating investment property to charity 501(c)(3).

It seems like a good way to dispose of property that may not be selling. Thoughts?

[Richard Warren]

When I was a financial planner I worked with several people who donated stocks and real estate through the use of a charitable remainder trust (CRT). They create the trust and transfer the property to it. They can then sell the property and avoid capital gains tax. They reinvest the proceeds into an income producing vehicle and receive the interest income from it. When they die the property goes to the charity. They also receive a tax deduction based on their life expectancy, the amount donated and the rate of interest that they receive.

What are you trying to accomplish by donating the property?

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