This publication is designed to help donors and appraisers determine the value of property (other than cash) that is given to qualified organizations. Find out how taxpayers can claim deductions for clothing and property donations, and other noncash items.When a charity or land trusts accepts a real estate donation, the landowner can deduct the fair market value of the land from his or her federal taxes. To qualify for these tax benefits and write-offs, you will need to transfer the property to either a Charitable Remainder Trust or a nonprofit organization. You will receive an immediate income tax deduction for a portion of the gift, and Bay Area Legal will have an immediate benefit from the receipt of your gift. Receive an immediate tax deduction for the charitable portion of the gift and avoid up front capital gains tax. After your lifetime, we receive the remainder. Becoming eligible for an income tax deduction of the full fairmarket value of the asset, up to 30 percent of your adjusted gross income.