Sample Annuity Termination Letter

Sample Annuity Termination Letter

Date

 

Re:  (Name of Estate)

 

Salutation:

 

This letter is in response to your request for information regarding, (Name of Annuitant) deceased, (Date of death).

 

(Annuitant’s Name) established a gift annuity contract with (Charity Name) on (Date), a copy is enclosed.  The Estate of (Name of Annuitant) can declare an additional deduction on the deceased annuitant’s final income tax return in the amount of ($0.00).  This amount is the undistributed investment in contract.

 

The annuitant’s undistributed investment in contract equals the additional total amount of tax-free income and capital gain income that (he/she) would have received had (he/she) lived to receive all remaining distributions of tax-free income.   This deduction should be reported as a miscellaneous deduction, not a charitable deduction.

 

If you require additional information, please do not hesitate to call me.

 

Sincerely,




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Last Updated
18th of May, 2010

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