Receive a tax deduction for the appraised value without having to sell it yourself
Did you know you can donate residential, commercial or development property to Honor Flight Chicago? By doing so, you no longer have to deal with the cost and hassle of selling. Donating also eliminates the ongoing costs for insurance, maintenance and property taxes. IRS rules allows you, the donor, to take the appraised value as a charitable deduction, subject to IRS guidelines and limitations. If the property has been held for more than one year, you also escape capital gains taxes.
Property can be donated today or after the owner has passed away. See your attorney and tax advisor for more details on how to transfer property to Honor Flight Chicago.
- Contact Honor Flight Chicago’s administrative office at 773-227-VETS (8387) for additional information on donating real estate.
- Seek the advice of your financial and/or legal advisor.
- If you include Honor Flight Chicago in your plans, please use our legal name and federal tax ID.
Legal Name: Honor Flight Chicago
Address: 938 West Montana St., Chicago, IL 60614
Federal Tax ID Number: 26-1978570
The information on this website is not intended as legal or tax advice. Please consult an attorney or tax advisor for such advise.