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We are Warriors. We think deeply. We act boldly. We impact the world in ways that will last long beyond our own lives. What legacy do you want to create?

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    A will is an essential part of transferring your property at the right time to the right people at the lowest cost. Without a will, your family may encounter increased costs, delays and unnecessary conflicts.

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    You are at: Planned Giving > Gift Options > How to Give > Bargain Sale

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    Bargain Sale

    Do you have property that you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale might be the right strategy for you.

    Bargain Sale
    Property
    Sale Portion
    Lycoming
    Charity image

    Benefits of a bargain sale

    • Avoid capital gains tax on your charitable gift
    • Receive a tax deduction that will reduce your tax bill this year
    • Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
    • Help Lycoming College further our important charitable work

    How a bargain sale works

    1. You sell Lycoming College your property for a price less than fair market value.
    2. You receive cash from the sale.
    3. You can take a charitable deduction for the value of your gift which is the difference between the fair market value of the property less the sale price.
    4. While you may owe some tax on the sale proceeds you receive from Lycoming College, the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.

    More on bargain sales

    A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.

    Contact us

    If you have any questions about a bargain sale, please contact us. We would be happy to assist you and answer any questions you might have.

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