Bargain Sale
Do you have property you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale could be the perfect solution for you.
Benefits of a bargain sale
- Avoid capital gains tax on your charitable gift
- Receive a tax deduction that will reduce your tax bill this year
- Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
- Help Planned Parenthood of the Pacific Southwest safeguard access to lifesaving care
How a bargain sale works
- You sell Planned Parenthood of the Pacific Southwest your property for a price less than fair market value.
- You receive cash from the sale.
- You can take a charitable deduction for the value of your gift which is the difference between the fair market value of the property less the sale price.
- While you may owe some tax on the sale proceeds you receive from Planned Parenthood of the Pacific Southwest, the charitable deduction from your gift could offset some, most or all your capital gains taxes associated with the sale.
More on bargain sales
A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.
Bargain sale video
Contact Us
If you have any questions about a bargain sale, please contact us.
