How does it work? It's called a charitable bargain sale. You sell a charity your residence or other property for substantially less than the appraised market value. The charity pays you in cash. This results in a transaction that is part sale, part gift. You receive an immediate income tax deduction for the value of the gift portion. You pay no capital gains tax on the gift portion. You receive cash to retire a mortgage or for other purposes.

Kentucky Baptist Foundation
Attn: Laurie Valentine
P.O. Box 436389
Louisville, KY 40253-6389
502-489-3533 | Fax: 502-489-3564 | Toll Free: 1-866-489-3533 (Kentucky Only) E-mail: laurie.valentine@kybaptist.org