A Charitable Cash Sale of any real estate property to a qualified nonprofit organization allows the seller both to receive cash from the sale and to claim a charitable contribution for a tax deduction as permitted by law. The difference between the appraised value of your property at the time of the sale and the cash received is your tax deduction. This tax deduction can be used up to 50 percent of the donor / seller’s adjusted gross income (AGI) for that year and up to five years thereafter.

A Chairitable Sale is one of the best methods to STOP FORECLOURE and to SAVE YOUR CREDIT AND TAXES. If your property is foreclosed or if you make a quick sale to avoid foreclosure, you must pay income taxes on the amount of the debt paid off either by the bank or buyer. Either way you lose.

The CHARITABLE sale donation will generally allow you to deduct the fair market value* of the property at the time the contribution is made.

*Fair market value of the donated asset is often far greater than the cash value of the asset. Real Estate Appraisers will determine the REAL value for you.

CHARITABLE SALE - HYPOTHETICAL

You secure an independent appraisal stating that the house is worth $500,000., and we agree to pay you $300,000. What are your benefits?

Asset contributed: Residence
Fair market Value: $500,000.
Cost Basis: $100,000.
Capital Gain: $400,000.

Purchase Portion $300,000
Donation Portion $200,000
Charitable Deduction $200,000.

Purchase portion of transaction (60%) ($300,000 / $500,000)
Donation portion of transaction (40%) ($200,000 / $500,000)

Portion of capital gain related to donation (40% of total) $160,000.

To learn more about making a Charitable Cash Purchase Contact Unite For Christ and speak to the Director, Call. 954 922-7464 or Email us at service@uniteforchrist.org

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