Real Estate Gifts

If you own property that is fully paid off and has appreciated in value, you can deduct the fair market value of your gift, avoid all capital gains taxes, and remove that asset from your taxable estate. Compass Health considers accepting all forms of real property. These include residential, commercial and industrial properties, undeveloped land and ownership interests (e.g. limited partnerships).


In the case of an outright gift, Compass Health will usually sell the property. That way, the proceeds can support the program or location of your choice. Contributing appreciated property to Compass Health provides significant tax benefits. If the property is donated outright, you can typically deduct the full fair market value of the gift up to 30 percent of your adjusted gross income in the year of the gift, with an additional five-year “carry-forward” for any unused deduction.


We would be happy to speak with you about Compass Health real estate gifts. For more information or to schedule a time to meet, please email, call, or write to:


Tom Kozaczynski
Director of Development
thomas.kozaczynski@compassh.org
425-349-8122
 
4526 Federal Avenue
MS#49
Everett, WA 98203