The Service announced in Notice 2018-55 ("Notice") a private college or university subject to the new 1.4% excise tax on net investment income, which sells property at a gain, generally may use the property's fair market value at the end of 2017 as its basis for figuring the tax on any resulting gain.

In its annual report on philanthropy ("Report"), the Giving USA Foundation announced charitable giving from all sources in 2017 was $410 billion, up 3% from the previous year in inflation-adjusted dollars.

This case study illustrates the use of a CRT to defer gain on the sale of a closely held business, with the CRT remainder passing to a DAF.

An understanding of a CLT is critical for any gift planner who wants to be in a position of becoming a donor's or potential donor's advisor. In order to do so, a gift planner must understand how a CLT works and be prepared to respond if other advisors to the donor should advise a CLT in the donor's financial, estate and charitable planning. This article presents the concept of this complex planned giving vehicle, different types and technical obstacles to setting one up. Examples are worked through in an attempt to show participants how to determine the appropriateness of a CLT for any particular donor. Lastly, advanced uses are addressed, with the specific facts and consequences presented.