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Charitable Bargain Sales |
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How It Works
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You sell your residence or other property to Ithaca College for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale. |
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Ithaca usually elects to sell the property and uses the net proceeds of sale for the purpose or purposes you specify. |
Benefits
- You receive an immediate income tax deduction for the appraised market value of the portion of the property you donated.
- You pay no capital gains tax on the donated portion of the property.
- You can receive cash from the sale portion to retire a mortgage or for other purposes.
- You can have the satisfaction of making a significant gift to Ithaca during your lifetime.
More
- Read more detail.Click here.
For more information
If you are considering a charitable bargain sale, email us, complete the personal illustration form, or call us at 607-274-3466 so that we can assist you through every step of the process.
