An individual may sell real estate and donate the proceeds to HFH/Buffalo

However, the real estate may be donated to HFH/Buffalo outright.  This has the 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, it is best to speak about this with your tax advisor or attorney.

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