topic Re: Trust deduction for charitable donations in Deductions & credits

Trust deduction for charitable donations

merlin00 — Sun, 17 Nov 2024 12:21:01 GMT

I am now in charge of 3 irrevocable trusts. Each lists multiple beneficiaries that are 501c3 charities. Is that in itself considered "explicit authorization to donate to charities" (IRS requirement for deductions) or does it also need to be stated elsewhere in the trust documents??

The trusts all earned under $10k in interest income, and each is donating tens of thousands to 501c3 charities. I just want to know if I'm going to have to do a bunch of K-1s or if the income can be completely zeroed out by these donations. Being on the list of beneficiaries seems pretty EXPLICIT, but then again I don't trust anything anymore when it comes to the IRS!

Thank you.

Re: Trust deduction for charitable donations

Anonymous_ — Fri, 13 Dec 2024 16:20:16 GMT

Re: Trust deduction for charitable donations

merlin00 — Mon, 18 Nov 2024 10:59:59 GMT

So is the charity being listed as a beneficiary then "authorizing" charitable donations?

Also, if the income is $8000 and the donation is $30,000 then how am I supposed to prove that it was all income and no principle?

Re: Trust deduction for charitable donations

Anonymous_ — Fri, 13 Dec 2024 16:20:27 GMT