Friday, May 3, 2024
Deferred Gifts

3.4.4 Basic Quiz -- Retirement Annuity
A donor can fund several gift annuities over a period of time and have them all pay out at the same time.
     True      False
It is permissible to have additional contributions with a gift annuity.
     True      False
If a donor needs additional income from an annuity for only a period of time, a term of years deferred gift annuity works well.
     True      False
If a donor funds a term of years annuity for him or herself with appreciated property, the capital gain tax is due in the tax year that the gift annuity is funded.
     True      False
It is allowable to do a deferred gift annuity for two lives and convert it to a term of years.
     True      False
There may be a 10% penalty if the annuitant converts a lifetime gift annuity into a term of years gift annuity.
     True      False
With a deferred gift annuity, even though an annuitant does not receive income until a later time, the donor receives the deduction when the gift annuity is funded.
     True      False
When illustrating a multiple-contribution deferred gift annuity in Crescendo, the future tax deduction and payouts are only estimates.
     True      False
The longer the deferral, the lower the payouts.
     True      False
The election for a term of years can be made any time before the first annuity payment.
     True      False



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