- You sell Kent State University property for a price less than fair market value.
- You receive cash from the sale.
- You can take a charitable deduction for the value of your gift which is the difference between the fair market value of the property less the sale price.
- While you may owe some tax on the sale proceeds you receive from Kent State University, the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.
if you have have property you would like to sell, or if you are seeking a strategy to reduce your income taxes, a bargain sale may be the right strategy for you.
Benefits of a Bargain Sale
- Avoid capital gains tax on your charitable gift
- Receive a tax deduction that will reduce your tax bill this year
- Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
- Help Kent State University further our important work of putting students first in all we do
Please contact us with any questions about a bargain sales.