skyking76
Returning Member

New Charitable Remainder Unitrust

I established a new Charitable Remainder Unitrust, into which I direct deposited (no pass through) the proceeds from the sale of two fully depreciated significant business assets. 

1.  Am I correct that I enter both asset (cash) donations under charitable donations/other per review of other CRUT discussions, so as to generate the required IRS 8382 form?

 

2.   Should I attach a copy of the signed/completed CRUT agreement to my 2021 tax return?

 

3.  The assets are invested with Merrill Lynch as a TTEE account (trust account).  When I import from ML, the 1099 proceeds from that TTEE are being imported as taxable income (which it is not).  Do I just delete that account information from the 1099DIV and 1099INT and capital gains lists, or somehow otherwise indicate it is non-taxable?

 

4.  I will be receiving an annual taxable distribution in the amount of 7% of the value each January (starting in 2022).  How do I report that income?