Donating my house to a church?
I own a house (House A) and I was thinking of donating it to a church. I would donate said house for exactly what I paid for it last year. Can the church then sell the house at market value (way higher than the donated value by $250k)? And use those profits to do public good? Or is the church subject to Capital Gains? (They have tax exempt status) The church’s plan would be to buy a parcel of land and use it for a farmers market and reduced rate housing*** I also own another house (House B) that the church has been renting for a year. It’s actually a farm where the church grows food for sale/profit, this would go with their plan for the farmers market thing above. The church would also use part of the proceeds of the House A sale to build a well on my House B property in lieu of rent for the next 5 years. (This is less money overall than they would spend renting without improvements). The church would be using the well to grow food because currently they’re using city water.
All parcels of land are zoned for the intended use.
Posted Apr 27, 2022, 1:12 PM UTC
This does not make sense. You either donate house as is, or sell the house and donate cash.