Sentences with phrase «donating such assets»

Donating such assets may enable the donor to enjoy a current year tax deduction and potentially eliminate capital gains tax liability on the sale of the asset while allowing the charities they support to receive the most money possible.

By donating such assets to a public charity (including a donor - advised fund account), they can take a full, fair market value income tax deduction for the donation while potentially eliminating capital gains tax liability on the sale of real estate.

Not exact matches

The IRS also provides tax breaks for people donating other assets, such as certain wines, art and land.

In fact, I have found it to be such an asset that I personally bought ten copies and donated one to each of the branch libraries in my county!

If you donate assets that have increased in value, such as stock or a mutual fund, which you've held for over a year, you may be able to deduct the market value and avoid capital gains tax on the appreciation.