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Giving a house as charitable donation?

Answers:1   |   LastAnswerAt:2009.12  

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B's Girl 
Asked at 2009.12.18 23:47:36
What if any are the tax benefits if giving a house to an individual who is in need? Are there any credits or deductions I can take as a real estate agent in NC?
answer Don  Answered at 2009.12.18 23:47:36
You can't get a donation by giving a house to someone in need. You could give it to a bonified charity and get a very nice tax deduction. But unless the individual is set up as a charity ( very unlikely ) then you will receive no deduction. Also pass through charities would be illegal. Say you give the house to your church with instructions to give it to the person you have in mind. This would be a controlled pass through and not allowed as a tax deduction if discovered and the church or charity could lose their tax exempt status.

Good Luck.
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