Contributing real estate which is reasonable expected to be easily sold or an interest in such property to the Archdiocese (including your parish) or Catholic Charities--whether a personal residence, family farm, vacation home, condominium, cooperative apartment, business property or speculative acreage--can be highly advantageous to you. You will have a significant income tax charitable deducation, you will completely avoid capital gains tax on appreciated, long-term real estate (owned more than one year), and estate taxes for your family will be reduced. For example, you may donate your personal residence or farm and retain the right to use and enjoy it for life. Your attorney or accountant can assist you in determining the tax aspects you should consider in making such a gift.
