Prepared for: Donor name
| A. Input Assumptions | |
|---|---|
| Date of transfer | October 3, 2023 |
| Fair market value of property transferred | $100,000.00 |
| Nearest age on the date of the gift for Beneficiary 1 is | 85 |
| Is fund three years old or older? | Yes |
| Highest yearly rate of return for preceding three years (based on discount rate if fund has been in existance for less that three years) | 4.8% |
| The discount rate (effective 10/2023) is | 5.4% |
| The mortality table is based on the census taken in | 2010 |
| B. Calculation of Income Tax Deduction | |||
|---|---|---|---|
| 1. | Fair market value of property transferred | $100,000.00 | |
| 2. | Highest yearly rate of return for preceding three years | 4.8% | |
| 3. | Interpolation of Table S factor | ||
| (a) | Nearest usable payout rate less than or equal to the Line 2 rate | 4.8% | |
| (b) | Line 2 minus line 3(a) | 0% | |
| (c) | Line 3(b) divided by .20 percent | 0 | |
| (d) | Factor from Table S at the line 3(a) rate | 0.75235 | |
| (e) | Factor from Table S at the rate .20 percent higher than the line 3(a) rate | 0.75227 | |
| (f) | Line 3(d) minus line 3(e) | 8.0E-5 | |
| (g) | Line 3(f) times line 3(c) (interpolation adjustment) | 0 | |
| (h) | Interpolated Table S factor (line 3(d) minus line 3(g)) | 0.75235 | |
| 4. | Present value of remainder interest = tax deduction (Line 1 * Line 3(h)) | 75,235.00 | |
NOTE: This calculation is provided for educational purposes only. The type of assets transferred, the actual date of the gift, and other factors may have a material effect on the amount or use of your deduction. You are advised to seek the advice of your tax advisors before implementing a gift of this type.
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