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C
ChiHoang
Level 6
April 11, 2023
Question

Charitable Lead Annuity Trust (ECLAT)

  • April 11, 2023
  • 1 reply
  • 26 views

I have clients that put in $1,000,000 in ECLAT. Is it true that they can use up to 30% adjusted gross income for the deduction of the $1,000,000 per year that they placed into that charitable trust ? If so, do I deduct that on schedule A under cash contribution ?

Thanks for your answer.

This topic has been closed for replies.

1 reply

C
ChiHoangAuthor
Level 6
April 12, 2023

Can anyone answer my question regarding the ECLAT (Charitable Lead Annuity Trust) that I sent yesterday ? Thanks

sjrcpa
sjrcpa
Level 15
April 12, 2023

This is too complex for a quick, free answer from strangers on the internt on April 12.

First, the charitable contribution deduction is not $1,000,000. There are calculations to perform.

The more I know the more I don’t know.
C
Choang
Level 2
April 12, 2023

Is it not 30% of AGI ?

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