ACES Office of Advancement

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Real Estate

Income Tax Consequences

Whether or not a real-estate gift is taxable depends on the type of property. Gifts are evaluated on a case-by-case basis.

Estate Tax Consequences

Upon transfer to the charity, gifts of real estate are excluded from the donor's estate for purposes of estate-tax calculations. Moreover, these gifts are not subject to the IRS three-year look-back period on lifetime gifts from the estate.

Making a Real Estate Gift

The University of Illinois Foundation must evaluate each piece of real-estate property before accepting it on behalf of the College of ACES.

Questions?

Contact the College of ACES Office of Advancement at 217-333-9355 and ask to speak with a major gift officer.