ChiHoang
Level 5
04-16-2023
11:15 AM
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Yes, $1,000,000 is a charitable contribution (present value of annuity limited by 7520reg.). Do I input that amount in the "Cash Contribution" section and name it CLAT contribution? Do I have to select "type" ?
I am using ProSeries Basic. When I enter $1,000,000 CLAT contribution, it deducts $450K, more than 30% of $750K AGI. Do I do something wrong ?
Thanks in advance for your quick response.