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PARKS &
WILDLIFE
FOUNDATION Phone:
605-773-4503
About the Foundation |
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BARGAIN SALE
A bargain sale is a simple agreement in which you sell securities, real estate, tangible personal property, or other assets to SD Parks and Wildlife Foundation for less than their current value.
EXAMPLE:
If you sell property worth $50,000 with a cost basis of $50,000 to
SD Parks and Wildlife Foundation for $25,000.
BENEFITS INCLUDE:
1) 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 over the next five years, subject to the same 50% limitation.
2) You will receive $25,000 from SD Parks and Wildlife Foundation.
3) Your estate may enjoy reduced probate costs and estate taxes.
4) You will provide generous support of SD Parks and Wildlife Foundation.
November 26, 2002
These calculations are for illustration purposes only and should not be considered legal, accounting, or other professional advice. Your actual benefits may vary depending on the timing of the gift.
For more information see our Policy Manual.