Under current IRS guidelines, donating real estate to a qualified charity allows you to claim a charitable tax deduction generally based on the property’s fair market value, subject to applicable IRS rules and limitations. For many donors, the potential tax savings can outweigh the financial and personal burden of holding onto real estate that has become an underperforming investment, costly to maintain, or a source of ongoing stress. In most cases, the charitable deduction applies to the tax year in which the property is donated, and any unused portion of the deduction may be carried forward for up to five additional years. To ensure the deduction is eligible, the donation must be made to a qualified IRS-recognized 501(c)(3) charity. For property donations valued at more than $5,000, the IRS requires a qualified independent appraisal to substantiate the fair market value of the donated property.