Consider a gift of real estate that has been held more than one year and has appreciated in value. Gifts of vacation homes, vacant land, personal residences and even commercial property are accorded the same tax advantages as securities such as stocks and mutual funds. A qualified appraisal is required by the Internal Revenue Service to substantiate your income tax deduction.
A gift of securities can be very tax-wise. Appreciated stocks or mutual funds held long-term can be given to Hospice & Palliative Care of Iredell County without generating any capital gains tax, and the full fair market value is available to HPCIC to support our mission.
As a donor, not only do you avoid capital gains tax, but you are also entitled to a charitable income tax deduction for the full fair market value. This amount can be deducted up to 30 percent of your adjusted gross income in the year you make your gift. Any excess can be carried forward for up to five additional years.
For more information about making gift of real estate, stocks or mutual funds to HPCIC, please contact Amy Fuhrman at 704-873-4719 ext. 4439 or firstname.lastname@example.org.