December 31 Deadline for a Tax Deduction

Don’t Miss the Deadline: Donate Property by December 31 for a Tax Deduction!

To qualify for a tax deduction, property donations in Chicago must be completed by December 31st of the tax year.

December 31 is the cutoff date, meaning the property title is transferred and accepted by the charitable organization on or before this date, to qualify for a deduction on your 2025 taxes. For non-cash donations like real estate, the IRS requires:
• A contemporaneous written acknowledgment from the charity (must be received before filing your taxes).
• Form 8283 if the total value of non-cash donations exceeds $500.
• A qualified appraisal if the property is valued over $5,000.

Miss a step, and you could miss your 2025 tax deduction.

It is essential to begin the property donation process early, ensuring there is enough time to complete key steps like:
• Title transfer and legal paperwork
• Qualified appraisal (if required)
• IRS documentation and Form 8283
• Charity acceptance and acknowledgment

Here’s how the Urban Renewal Project Chicago helps.

First and foremost, the volunteer team of real estate professionals at Urban Renewal Project Chicago recommends consulting a tax advisor or attorney to make sure that donating your property is the right choice for you.

Simplified Donation Process:
• We handle all paperwork and title transfer logistics at no cost to the donor.
• Whether the property is vacant, inherited, in disrepair, or facing code violations, a wide range of real estate types is considered.
• You, as the donor, submit your property details, and the team initiates the donation process with transparency and care.

Tax Deduction Support:
• Donations must be completed by December 31, 2025, to qualify for that year’s tax deduction.
• Urban Renewal Project Chicago facilitates donations for the qualified 501(c)(3) organizations of the National Women Veterans United and United Relief Foundation, ensuring your donation is eligible for IRS deductions.
• They guide donors through IRS requirements like Form 8283 and qualified appraisals for properties valued over $5,000.

Professional Stewardship:
•  A team of volunteer real estate professionals ensures a smooth, respectful experience for donors.
•  They offer consultation and guidance throughout the process, making sure donors feel confident and informed.

Time is running out:
The Urban Renewal Project Chicago team can help you facilitate your Chicago South Side property donation for a 2025 tax deduction—at no cost to you or the receiving charitable organization.

We would be pleased to answer any questions.
(312) 957-4951