|Charitable Bargain Sales|
How it works
|You sell your residence or other property to Reformed Theological Seminary for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale. |
|Reformed Theological Seminary usually elects to sell the property and uses the net proceeds of sale for the purpose or purposes you specify.|
- 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 Reformed Theological Seminary during your lifetime.