Timber shares

Timber shares

Forum topic posted in Forum on 18 August 2010| comments
audience: | last updated: 18 August 2010
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Joined: 08/18/2010
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I have a donor who would like to donate to our charity the right to sell timber shares from a Costa Rican tree farm corporation. From time to time, he gets a letter from the tree farm, saying that he has the right to sell so many feet of lumber. He then writes back to the farm (via email), and they cut the wood and sell it. He says in a few weeks he gets a check for the wood sale. He'd like to give us the right to sell the wood, then get a tax deduction for the value of the wood (the appreciated asset). I guess the donor wants to give us the lumber so that he doesn't have to pay any capital gains. Has anyone had a donation like this before? What are the pitfalls of such a gift?

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