Beneficiary taxed on income, if any. Tax deduction based on value of property. Avoidance of tax on capital gains. Donor and FSU Foundation enter into written agreement setting out terms of sale. Donor transfers assets to FSU Foundation.
Donor receives lump sum or installment payment of sales price.
Tax deduction based on value of property and sales prices. Avoidance of capital gains tax on gift portion. Donor transfers assets to FSU Foundation. If use related to FSU, tax deduction based on value of gift. If use unrelated, tax deduction limited to cost basis.