kmyfinancial
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03-16-2022
11:12 AM
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$10,252 of appreciated stock was donated to a 8.6001% charitable gift annuity on 12/2021. Income to be paid quarterly and the calculated charitable contribution deduction to be reported on form 8283 is $6520. Taxpayer also received a 1099-R Code F with a small amount of income in gross and taxable and a letter from the charity providing detailed information such as: gift amount $10,252, discount rate of 1.6%, quarterly payment schedule, and the annual $882 annuity amount. Would like to know correct entry of information within the annuity section of the 1099-R section as well as correct reporting of the calculated charitable contribution of $6520 on form 8283. Also, would like to confirm if the initial 2021 entry of this charitable gift annuity impact the reporting of future year returns?
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