Are you thinking of selling land or a building? Beware of capital gains tax! If you sell your primary residence, you can exclude up to $250,000 ($500,000 if you are married) of the gain. This tax break does not apply to other types of real estate, however, so you may have a better alternative. A charitable contribution of real estate— whether it is your personal residence, a vacation home, a farm, commercial real estate or vacant land—will give you numerous advantages. When you give your home or other real estate to Jesuit High School, you create an enduring testimonial of your interest in our mission. Your personal satisfaction is also complemented by valuable tax benefits. D I D Y O U K N O W ? REAL ESTATE A TAX-WISE GIFT Benefits �� Receive an income tax charitable deduction for the full fair market value. �� Eliminate tax on the property’s appreciation. �� Prevent the hassle of trying to sell the property. �� Make a gift to support a great cause, and reduce your taxable estate. Even if your property has lost value in recent years, for tax purposes it is still appreciated if its current value is more than what you originally paid for it. 13
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