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Which of the following statements regarding charitable gift annuities ( CGAs ) is CORRECT? A ) The donor of a CGA is eligible for an
Which of the following statements regarding charitable gift annuities CGAs is CORRECT?
A
The donor of a CGA is eligible for an income tax deduction equal to the fair market value FMV of the donated property.
B
A CGA is a contract between a donor and a qualified charity in which the donor transfers cash or appreciated property to the charity in exchange for an annuity.
C
A CGA is usually secured and presents no risk to the donorannuitant.
D
Only cash, and not appreciated property, may be donated to charity in a CGA.
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