Plan Your Will
Free Wills Guide
Contact Us
Menu
Text Resize
Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
Mobile Video Button

Bargain Sale

Do you have property that you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale might be the right strategy for you.

Bargain Sale
Property
Sale Portion
ECC Foundation
Charity image

Benefits of a bargain sale

  • Avoid capital gains tax on your charitable gift
  • Receive a tax deduction that will reduce your tax bill this year
  • Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
  • Help Erie Community College Foundation, Inc. further our important charitable work

How a bargain sale works

  1. You sell Erie Community College Foundation, Inc. your property for a price less than fair market value.
  2. You receive cash from the sale.
  3. You can take a charitable deduction for the value of your gift which is the difference between the fair market value of the property less the sale price.
  4. While you may owe some tax on the sale proceeds you receive from Erie Community College Foundation, Inc., the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.

More on bargain sales

A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.

Contact us

If you have any questions about a bargain sale, please contact us. We would be happy to assist you and answer any questions you might have.

Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
scriptsknown

Plan Your Will

The Online Wills Planner is designed to help you gather the information your attorney will need to plan for your future.
More

Wills Guide

Are you ready to plan your will or trust? We would like to give you a FREE Wills Guide.
More

E-newsletter

Please click on the appropriate link below to register for our weekly E-newsletter. Our E-newsletter features current news from Washington, finance information, stories about others who have benefited from giving, calculators and more!
Donor E-newsletter
Advisor E-newsletter