Outright Gifts of Real Estate

The most popular way to make a gift of real estate is to transfer the property’s deed to The Florida State University Real Estate Foundation. Upon making an outright gift of real estate, the donor is entitled to a charitable income tax deduction for the appraised value of the property. In most cases, donors can avoid any capital gains tax that would be incurred by selling the property themselves. The deduction available equals 30 percent of the donor’s adjusted gross income in the year the gift is made. It is also possible to carry over any unused deduction for five consecutive years.

In most cases, the donor intends to support a particular academic unit on campus. In these situations, the Real Estate Foundation will oversee the sale of the property. Once the sale is complete, the FSU Real Estate Foundation will transfer the proceeds to the FSU Foundation, who will deposit and invest the proceeds in a manner that supports the donor’s specific intent.