PG Calc Blog

The latest on planned giving from PG Calc.
Read our posts for comments on the latest topics and issues in planned giving. We hope you find our posts timely and interesting, and we hope you'll share your perspective with us!

Dos and Don’ts with 1099-Rs

Dos and Don’ts with 1099-Rs

It’s tax season, and there are some dos and don’ts you should be aware of as you prepare your donors’ 1099-Rs. DO mail a 1099-R to your gift annuitants so it is received by them on or before Monday, February 2, 2015 (January 31 is usually the deadline but we get a few more days because it’s a Saturday this year).

IRS Revises 2011 Reporting Requirements for Capital Gains Distributed by Charitable Gift Annuities

On December 16, 2011, the Internal Revenue Service (IRS) provided new 1099-R Instructions for annuitants that describe how to report 1099-R income on a Federal Income Tax return. Prior to then, these instructions stated that capital gains in Box 3 of the 1099-R should be reported on Form 1040 Schedule D line 13. The new instructions, in contrast, say the following: