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What are the tax benefits for a Charitable Gift Annuity?

April 26, 2017Annuity Benefits charitable gift tax

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What are the tax benefits for a Charitable Gift Annuity?

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There are two major benefits: 1. You can claim a one time charitable deduction for the gift portion of your annuity during the tax year you make the annuity gift. 2. Part of each payment is a tax-free return of principal.