Each of three minor children own their own separate parcel of vacant land. Each parcel is valued at 80k. Each is held in a custodial account. Single mom wants to donate properties as taxes and other related costs are being incurred each year and there is no market for these properties. Kids have no income so charitable deduction will be of little value to them. My thought was to have them gift properties to Mom who has significant income and who could then make the donation and take a deduction.
Thoughts? Thanks in advance.