QUESTION
WHY hefty taxes TO A CHARITABLE ORGANIZATIONthat your gift receiver will have to pay because they are receiving property for free.
Asked on Jul 19th, 2019 on Wills and Probate - Missouri
More details to this question:
I PLAN TO GIVE MY PROPERTY, 10-ACRES AND 2 ATTACHED MOBILE HOME TO THE SISTERS OF LIFE IN NEW YOUR AND WAS LOOKING UP IF I COULD DO T.O.D. FOR THE LAND .. BECAUSE ONE MOBILE HOME TITLE TRANSFER INCLUDED T.O.D. ON THE TITLE. BUT HOW TO AVOID THE SSITERS OF LIFE FROM HAVING TO PAY HEFTY TAX WAS A QUOTE FROM YOUR WEBSITE
1 ANSWER
2 Awards
Gifts to a charitable organization are not taxed nor is the charity taxed on their receipt. The gifts are tax deductible to the giver (within certain limits, which appear not to apply to this gift.)
Answered on Jul 20th, 2019 at 6:09 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.