No, you would not be able to claim a deduction for the full amount given for a charitable gift annuity. This is because a portion of the charitable gift annuity is actually an investment for the donor, who will receive a fixed payout for the rest of his or her life.
Therefore, as the donor of a charitable gift annuity, you are only eligible for a partial charitable tax deduction. The deduction is calculated by taking the full gift amount and subtracting the present value of all the annuity payments. This calculation is usually done by the charitable organization, an agent of the organization or a financial investment company.
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