510-642-6300
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Charitable Bargain Sale
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How It Works
Real Estate
Tangible Property
- You sell an asset that you have held for more than one year to Berkeley for less than the fair market value; therefore your transaction is part gift, part sale.
- Generally, Berkeley will sell the property and use the proceeds to support campus programs you specify.
How You Benefit
Income Tax Deduction
Capital Gains Tax Benefit
- Receive an income tax charitable deduction for the full fair market value of the portion of the property you gift to Berkeley.
- Your basis in the property is prorated between the gift and sale portions; your capital gains tax is reduced.
- You receive cash from the sale portion of the transaction.
For more in-depth information, please call one of our experts at 510-642-6300.
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