Grossly overvalued real estate won't qualify for charitable tax deduction

EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019

What do you do when you own an apartment building that you want to get rid of but no one wants to buy? One strategy owners of undesirable properties often use is to give the property to a charity and take a charitable deduction on their taxes. If the contributed property’s valuation for tax purposes is high enough, the property owner can come out way ahead.