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You may make a gift of your home to a charity while retaining the right to live there for life - a deed with a retained life estate interest. A current income tax deduction will be available based on the present value of the charity's remainder interest calculated on the basis of your life expectancy and depreciation, subject to the AGI limitations previously noted. The charity receives the home on your death and can sell it without incurring tax on the gain. You retain not only the life estate, but the responsibility of paying real estate taxes on, and maintaining, the property during your lifetime.