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Bargain Sale

Bargain Sale
Property
Sale Portion
SCRIPPS

Scripps Health purchases your property for less than fair market value. You receive the cash and a charitable deduction for the difference between the market value and purchase price.

How a Bargain Sale Works

  • You sell Scripps Health your property for a price less than fair market value.
  • You receive the cash from the sale and a charitable deduction for your gift to Scripps Health (the difference between the market value and purchase price).
  • While you may owe some tax on the amount you receive from Scripps Health, the charitable deduction from your gift could offset your taxes this year.

Benefits of a Bargain Sale

If you are considering selling your property, a bargain sale can help you meet your goals.

  • Avoid capital gains tax on the gift portion of the transfer to charity.
  • The income tax deduction from the gift portion of the transaction of your gift will give you valuable tax savings that may reduce your tax bill this year.
  • With the cash received from the sale, you may then reinvest to create more income for your future.
  • Best of all, your gift will help Scripps Health to further its work.
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