§ 408(d)(8)(F)(ii)(I)

a split-interest entity

UNDECIDED

0 of 2 settled

  1. 1

    § 408(d)(8)(F)(ii)(I)

    ALL OF
    “a charitable remainder annuity trust (as defined in section 664(d)(1))” needs Step 2 a charitable remainder annuity trust UNDECIDED
    “such trust is funded exclusively by qualified charitable distributions”
  2. 2

    § 664(d)(1)

    a charitable remainder annuity trust

    ALL OF

    For purposes of this section, a charitable remainder annuity trust is a trust—

    “from which a sum certain (which is not less than 5 percent nor more than 50 percent of the initial net fair market value of all property placed in trust) is to be paid, not less often than annually, to one or more persons (at least one of which is not an organization described in section 170(c) and, in the case of individuals, only to an individual who is living at the time of the creation of the trust) for a term of years (not in excess of 20 years) or for the life or lives of such individual or individuals,” § 664(d)(1)(A)
    “from which no amount other than the payments described in subparagraph (A) and other than qualified gratuitous transfers described in subparagraph (C) may be paid to or for the use of any person other than an organization described in section 170(c),” § 664(d)(1)(B)
    “following the termination of the payments described in subparagraph (A), the remainder interest in the trust is to be transferred to, or for the use of, an organization described in section 170(c) or is to be retained by the trust for such a use or, to the extent the remainder interest is in qualified employer securities (as defined in subsection (g)(4)), all or part of such securities are to be transferred to an employee stock ownership plan (as defined in section 4975(e)(7)) in a qualified gratuitous transfer (as defined by subsection (g)), and” § 664(d)(1)(C)
    “the value (determined under section 7520) of such remainder interest is at least 10 percent of the initial net fair market value of all property placed in the trust.” § 664(d)(1)(D)

    Cases: Estate of Atkinson v. Commissioner, 115 T.C. 26 (2000)