Vacation Properties Become Popular Donations
June 14, 2007 | Read Time: 1 minute
Among real estate gifts to the University of Maryland, its director of gift planning says, most popular of late are donations of vacation and rental properties, reports United Feature Syndicate.
Donors to Maryland and other nonprofit entities are finding they can deduct the full value of a donated property from their taxes and avoid reporting its appreciation over time as capital gains, getting a double bonus for their donation, the news agency reports.
“It’s hard to imagine a better tax-savings device,” Mackenzie Canter III, a Washington lawyer who specializes in philanthropy law, tells the news agency.
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