Real estate donations are the donation of real property, such as land or buildings, to a charity. Real estate gifts provide valuable resources for charities and can help donors receive significant tax benefits. The charity must be recognized by the Internal Revenue Service (IRS) as a 501(c)(3) organization in order for donors to claim a deduction on their federal income taxes. Donors should consult with a qualified attorney or tax advisor when considering donating real estate to ensure they understand any potential legal implications and maximize their tax savings.
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