Appreciated marketable real estate is another asset with which you may make a significant gift to Landon. A gift of real estate will entitle you to a federal income tax deduction equal to the fair market value of the property. You will need to substantiate this value with an appraisal. You may take this deduction for up to thirty percent of your adjusted gross income and any excess over that amount you may carry over for up to five additional years.
A personal residence, vacation home or farm offers another giving option. You may give a remainder interest to Landon while you retain the right to remain in and maintain the property for life. A gift of such a remainder interest entitles you to an income tax charitable deduction equal to the present value of Landon’s remainder interest. Gifts of real estate must be reviewed and approved in advance by Landon’s Gift Acceptance Committee in order to be accepted by the School.
For questions regarding gifts of real property, please contact Barbara Goodwyn, director of development, at 301-320-1004 or e-mail firstname.lastname@example.org for assistance.