Wheaton College has a long history of assisting donors with gifts of improved, unimproved, commercial, and residential real estate. Gifts of appreciated real estate can be especially attractive from a tax standpoint, since you receive a current charitable income tax deduction for the fair market value of the real estate AND you avoid the potential capital gains taxes that would be incurred upon the sale of the property.

In order to donate the real estate, you must obtain a “qualified appraisal,” which becomes the amount of the permitted charitable income tax deduction. The real estate gift is not complete until the signed deed is delivered to Wheaton College. This delivery requirement becomes more important towards the end of the year when timing is more critical for the gift to be counted in the current year.

Real estate does not have to be donated by means of an outright gift. Real estate can be transferred into a charitable remainder trust to provide you with lifetime income.

View an example of a real estate charitable remainder trust