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Gifts of Real Estate

An individual may:

  • sell real estate and donate the proceeds to HFH/Buffalo
  • donate real estate directly to HFH/Buffalo

BENEFITS OF DONATING REAL ESTATE DIRECTLY

There is potential for double income tax savings:

  • If the property has appreciated in value, the donation can be made free of capital gains taxes while also allowing one to deduct the full value of the property as a charitable gift.
  • If the property has declined in value, the capital loss deduction (to the extent allowed under the tax code) may still be available as well.

To understand how this can be applied to your current tax situation, contact your tax advisor or attorney.

To receive more information regarding this form of donation, please contact us using our online email form.

PLEASE NOTE: Habitat for Humanity of Buffalo’s acceptance of a real property donation is subject to an inspection, review and approval of the property.