PG Calc Blog

The latest on planned giving from PG Calc.
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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: