Gifts of Appreciated Property.

Gifts of appreciated property can provide you with major tax advantages.

Please consult your own tax advisor.

Our understanding is that gifts of appreciated property allow you to claim the entire value of gift while not reporting income on the appreciation.
Gifting a property with a market value of $200,000 which cost $100,000 might result in a capital gain of of $100,000 resulting in a tax of perhaps $20,000.
Conversely. a gift of $200,000 might result in an income tax savings of $60,000.

Making a direct gift of the property , in this example, results in a net tax savings to you of perhaps $40,000 ($60,000 less $20,000)

 

Please contact us directly to discuss a gift of appreciated property. These transactions can be somewhat complicated legally. We suggest you involve your legal counsel and we also will be using our counsel along with other professional advisors