Charitable Remainder Trust Calculator With Interest
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FAQ
The deduction is limited to the present value of the charitable organization's remainder interest. This is calculated as the value of the donated property minus the present value of the annuity.
A charitable remainder trust is an irrevocable tax-exempt trust that creates a ?split interest? consisting of an income interest paid throughout the trust term and a remainder interest distributed at the end of the trust term.
The present value of the remainder interest is determined by multiplying the fair market value of the property on the valuation date by the appropriate remainder factor.
In either type of CRT (unitrust or annuity trust), the Internal Revenue Service (IRS) requires that the payout rate stated in the trust cannot be less than 5 percent or more than 50 percent of the initial fair market value of the trust's assets.
To claim a tax-deductible donation, you must itemize on your taxes. Your donation must meet certain guidelines to qualify. The amount of charitable donations you can deduct may range from 20% to 60% of your AGI.