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-   -   Charitable Remainder Trust (https://www.askmehelpdesk.com/showthread.php?t=250238)

  • Aug 18, 2008, 01:19 PM
    Dilip0104
    Charitable Remainder Trust
    Hi,

    I am considering setting up a Charitable Remainder Trust through which I am told that I can get benefit of Income Tax Deduction and Estate Tax Benefit apart of satisfaction of donating my property to a good cause.

    Though I am clear with the Estate Tax Benefit, I am unable to figure out how the Income Tax Deduction is calculated. Can any one of you explain the calculation process involved in the same. Heard there is a Applicable Federal Rate(AFR) that will be used but not able to figure out how to calculate using the same.

    Many thanks for your help.

    Best Regards,
    Dilip.
  • Aug 20, 2008, 08:31 AM
    ebaines
    Here's a calculator that could help you. The amount of tax deduction depends on your age (and/or age of your spouse if she is included), how much income you wish to receive from the trust, and the type of trust you are setting up - for example a charitable remainder anniuty trust versus a charitable remainder unitrust.

    The National Academies
  • Aug 25, 2008, 03:57 PM
    Dilip0104
    Hi,

    Many thanks for the information. This seems to be very useful.

    Best Regards,
    Dilip.

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