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Should I enter the deductible value of a charitable remainder trust contribution or the dollar amount of the contribution?
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June 3, 2019
10:31 AM
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Retirement tax questions
You make a contribution to a charitable remainder trust in exchange, typically, for annuity payments back to you for your life, and money left over after you die goes to the charity. The deductible contribution is the discounted present value of the "left over" money, not the full contribution.
Tom Young
June 3, 2019
10:31 AM
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Retirement tax questions
Would you enter the deductible contribution amount just as you would any other charitable deduction?
October 7, 2021
8:53 AM
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Retirement tax questions
The amount that is deductible should have been computed at the time your trust was established.
October 7, 2021
10:27 AM