Gifts of Real Estate

A gift of real estate to Max Planck Florida Institute provides you with a charitable deduction for the full fair market value of the gift, up to 30 percent of your adjusted gross income - if you have held it for more than one year. Any deduction you are unable to use in the first year can be carried over onto subsequent tax returns for up to five additional years. You are not subject to capital gains tax on the appreciated value of the property.

As with gifts such as artwork and library collections, you will need to have your gift appraised by an independent appraiser to determine the value of your deduction. Gifts of mortgaged real estate may not be appropriate for donation. Please consult with us to make sure your real estate can be accepted by Max Planck Florida Institute.

You may give your home or property to Max Planck Florida Institute in the form of a life estate gift, and you or anyone you designate may have continuous, uninterrupted use of the property for his or her lifetime. Because you transfer ownership of the property to Max Planck Florida Institute, you receive an immediate charitable income tax deduction up to 30 percent of your adjusted gross income. You may carry over for up to five years any deduction you were unable to use in the year you make the gift. The amount of your deduction is based on the value of Max Planck Florida Institute's future interest in the property.  Though you benefit from the charitable deduction, in most cases you continue to be responsible for maintenance and property taxes. As with any gift, removing this property from your estate can also lower your estate taxes and probate costs.