You're considering a gift made during your lifetime > You hold a transferable interest in a viable investment partnership > You want to save both income and capital gains tax
Gifts of transferable partnership interests
– primarily in real estate or oil and gas ventures – can
benefit both you and Baptist causes. Gifts of transferable partnership
interests are usually made to endowment funds, but in some cases
may be used to fund a life-income gift such as a unitrust.
Donors who invested in a partnership to gain the tax losses generated
in its early years may look to donate their interest once income
starts flowing to the partners.
Your charitable deduction will be based on the difference between your share of the fair market value of the partnership and your share of its liabilities.
Both you and we must take some preliminary steps
before you transfer partnership interests. You should first determine
if the partnership allows shares to be transferred. For our part,
because gifts of partnership interests involve the Foundation in
issues of marketability, taxation, liability, and the potential
of later assessments by the partnership, our President and Executive
Committee must first review and approve any transfer.
If you are considering a gift of a partnership interest, first consult with your attorney and accountant. We can work with them to review the benefits of a gift.
Email us, complete the
personal illustration form, or call
us at 502-489-3533 so that we can assist you through every step
of the process.
