Thread: Brokerage fee
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Old October 16th 19, 02:57 PM posted to rec.aviation.soaring
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Default Brokerage fee

On Wednesday, October 16, 2019 at 6:32:14 AM UTC-4, wrote:
Donate it to a club with 501(c)(3) or other non profit status and take the tax deduction. Overall more profitable for the estate.


I'm not an expert but it's my understanding that an estate can only make a deductible charitable contribution if explicitly directed to do so by the will/trust. In that case, I suppose they could still make the donation but it wouldn't reduce taxes, just the amount conveyed to the beneficiaries, which raises my earlier concern. If the beneficiaries are OK with this concept, it might be better (again, I'm no expert) if they made the donation themselves. You'd have the usual issue of determining the value of the donation (not as straightforward as in earlier years), which brings us back to selling it...and a possible sales commission.

Chip Bearden
JB