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 Barbara Sinatra Children’s Center further our important charitable work
How a Bargain Sale Works
- You sell Barbara Sinatra Children’s Center your 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 Barbara Sinatra Children’s Center, the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.
More on Bargain Sales
A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.
Please feel free to explore the resources on this website and contact us at your convenience for a confidential visit to discuss your goals and to learn more about the benefits of planned giving. If you would like to speak with our office to learn more, please call 760-340-2336.