Benefits of Gifts of Real Estate
- Avoid paying capital gains tax on the sale of the real estate.
- Receive a charitable income tax deduction based on the value of the gift.
- Leave a lasting legacy to Stuyvesant High School and the Stuyvesant High School Alumni Association.
HOW TO MAKE A GIFT OF REAL ESTATE
Your real property may be given to the Stuyvesant High School Alumni Association by executing or signing a deed transferring ownership. You may deed part or all of your real property to the Stuyvesant High School Alumni Association. Your gift will generally be based on the property’s fair market value, which must be established by an independent appraisal.
Mortgaged Property – Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Capital Gains Tax – Check with us on the capital gains tax implications of your gift.
* Please note that certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
If you have any questions about gifts of real estate, please contact us. We would be happy to assist you and answer any questions that you have.
The Stuyvesant High School Alumni Association does not provide tax, legal or financial advice. Any document or information shared by our staff is intended to be educational. The Alumni Association strongly encourages all of our benefactors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by the Stuyvesant High School Alumni Association cannot be used to avoid tax-related penalties.