Southern California 7 Properties Bundle For Sale
Just got off the phone with a client who is currently in negotiations with a non profit about buying 7 properties off them in Thousand Oaks, CA. He is saying that he is selling to a non profit and is not interested in selling the properties individually because of the capital gain taxes. ( sounded like their was a benefit in terms of capital gains by selling to a non profit)
2 Questions: What are the benefits in regards to capital gains by selling to a non profit?
Thank you!
Btw, This is my first time posting.
Most Popular Reply
Perhaps he's setting up a charitable remainder trust or some kind of estate planning vehicle. He'll get a write off but doesn't get him out of capital gains completely. It just gets handled differently. I don't know of any California-specific legislation that allows you to SELL and get some sort of benefit. Giving it away, yes. You can do all kinds of estate planning stuff if you've got a team to guide you and a nonprofit that knows how to accept real estate.