Gifts of Real Estate
How It Works
- You deed your home, vacation home, undeveloped property, or commercial building to the Newberry Library.
- The Newberry may use the property or sell it and use the proceeds.
- You receive an income tax deduction for the fair market value of the real estate.
- You pay no capital gains tax on the transfer.
- You can direct the proceeds from your gift to a specific program at the Newberry.
- Frequently asked questions on gifts of real estate.
- Contact us so we can assist you through every step.