Booming Incentives to Donate Real Property in a Busting Economy

dc.creatorRose, Sarah
dc.date.accessioned2018-04-11T16:30:21Z
dc.date.available2018-04-11T16:30:21Z
dc.date.issued2010
dc.description.abstractCharitable giving declines in times of economic turmoil. However, it is becoming common for individuals to donate real property, especially if there is a tax deduction incentive attached to the donation, during recessions. While the economic incentives are significant, there is also an altruistic reason to donate to charities during times of economic downturn. For one, people are in more need of charity services. Second, there are less people able to donate, so those who can should. For IRC purposes, the amount of the charitable deduction is based on the fair market value of the property. The best type of real property to donate is property not in use that cannot be sold. Thus, the real property owner can at least get a tax deduction on the property. This is true no matter if the real property is commercial, residential, etc. Further, charities are moving towards accepting real property as a charitable donation. Another controversial valuation method is the 561 Exchange Program. This process value both real and person property at a rate higher then market value. Many critics believe this valuation system is vulnerable to abuse. Overall, this system appears to be beneficial, however, it is also dependent on changes in the economic and political climates. However, donating real property does have an economic and chartable advantage verses allowing the property to sit and fall in disarray.en_US
dc.identifier.citationSarah Rose, Booming Incentives to Donate Real Property in a Busting Economy, 3 EST. PLAN. & COMMUNITY PROP. L.J. 123 (2010).en_US
dc.identifier.urihttp://hdl.handle.net/2346/73560
dc.language.isoengen_US
dc.publisherTexas Tech University School of Law Estate Planning and Community Property Journalen_US
dc.subjectCharitable donationsen_US
dc.subjectDeductionsen_US
dc.subjectEconomic downturnen_US
dc.subjectGiftsen_US
dc.subjectMarket valueen_US
dc.subjectReal propertyen_US
dc.subjectTaxen_US
dc.titleBooming Incentives to Donate Real Property in a Busting Economyen_US

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