Charitable Bargain Sales (An Alternative Source of Income)
How it works
You sell your residence or other property to the Taft School for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale.
Taft usually elects to sell the property and uses the net proceeds of the 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 Taft during your lifetime.
For more information
Email us, complete the personal illustration form, or call us at (860) 945-5923 so that we can assist you through every step of the process.
