Real Estate—A gift of real estate provides the donor the opportunity to support Texas State, resulting in a possible charitable income tax deduction, a reduction in estate taxes and reduction of capital gains tax. Property owners can also choose to make a gift of real estate with retained life interest. Though you may continue to live in or use the property for the remainder of your life, by deeding the property to Texas State University, you may claim a tax deduction at the time the property is transferred.