Friday, May 3, 2024
Deferred Gifts

3.8.2 Basic Quiz -- Pooled Income Fund Valuation and Taxation
The tax code requires that pooled income funds be revalued at least annually.
     True      False
A pooled income fund must be valued each year by an appraiser who meets the IRS qualification rules.
     True      False
The value of a pooled income fund is determined by averaging the high and low selling price of its investments on January 1st each year.
     True      False
The periodic and proper valuation of a pooled income fund is essential for proper operation of the fund.
     True      False
The highest rate of return for a pooled income fund is determined by combining the income yield and the growth rate of the fund.
     True      False
For pooled income funds in existence for three years or more, the applicable federal rate must be used when computing the charitable deduction.
     True      False
If a pooled income fund has not been in existence for three years, then the fund must use an averaged applicable federal rate.
     True      False
Depending on the type of pooled income fund created, a donor may elect to receive either an annuity payment or a unitrust type payment.
     True      False
In general, a pooled income fund is a better vehicle than a charitable gift annuity or a charitable remainder trust.
     True      False
The pooled income fund donor may only deduct the cost basis of the asset contributed.
     True      False



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