What Is A Bargain Sale?
A bargain sale is a simple agreement in which you sell securities, real estate, tangible personal property, or other assets to Salus University for less than their current value.
Example: If you sell property worth $50,000 with a cost basis of $50,000 to Salus University for $25,000,
- You will qualify for a federal income tax deduction of $25,000. Note that deductions for this and other gifts of cash and non-appreciated property will be limited to 50% of your adjusted gross income. You may, if necessary, take unused deductions of this kind on tax returns over the next 5 years, subject to the same 50% limitation.
- You will receive $25,000 from Salus University.
- Your estate may enjoy reduced probate costs and estate taxes.
- You will provide generous support of Salus University.
For More Information Contact
Lynne C. Corboy,
Director of Development