Real Estate—Bargain Sale
How It Works
- You sell property to Empire State University for less than its fair-market value—usually what you paid for it
- Empire State University pays you cash for agreed sale price, and you receive an income-tax deduction
- Empire State University may use or sell the property
Benefits
- You receive cash from sale of property (sale price is often the original cost basis)
- You receive a federal income-tax deduction for the difference between the sale price and the fair-market value of the property
- Empire State University receives a valuable piece of property that we may sell or use to further our mission
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Toby Tobrocke |
The Empire State University Foundation |
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