Have client with approx. 300k in inherited investments with a cost basis of approx. 100k. The accounts are under the 5-yr deferral option that allows them not to take any distributions until the 5th year of the death of decedent.
a. Can they use this money to fund a CRUT for their charities, receive an income and receive a tax deduction?
They are worth north of 5M and need some tax deductions along with funding their favorite charities. They are in FL.