The document provides instructions for reporting charitable gift annuities on a tax return using TaxWise tax preparation software. It explains that charitable gift annuities will be reported on a 1099-R tax form with a code of F in Box 7. It outlines how to enter the 1099-R information into the TaxWise 1099-R input form and Schedule D to report the annuity amount as a long-term capital loss.

1. Charitable Gift Annuity...
How to handle using TaxWise

2. Charitable gift annuity...
Reported on a 1099-R; there will be a number in Box 3, and...
a code F in box 7...
Aardvark University 1,111.00
1200 Campus Avenue
10
1,111.00
Scottown, OH 45678
52-88888 111.00
John Doe
123 Main Street F
Bel Air, MD 21014

3. Charitable gift annuity...
Complete the 1099-R input form as shown...
And lines 16a and b of the 1040 will look like this...

4. Charitable gift annuity...
In addition, TW will put a red exclamation mark next to Sch D, Pg 1 in
your forms tree; if Sch D is not already in your forms tree, TaxWise
will add it...
Sch D, Pg 1 will look like this...

5. Charitable gift annuity...
Open the Cap Gn Wkt...
In column (a), type FROM 1099-R, key Enter, and columns (b)
and (c) will turn red...
F3 columns (b) and (c) to get the red out...
In column (f), override the field and enter the amount from the
1099-R, Box 3...
In the S/L column, override the field and change the S to L...

6. Charitable gift annuity...
Next, go to Sch D, Pg 1, which will now look like this...
F3 columns (b)-(e) to get the red out, and you are finished...
Lines 13, 16a, and 16b of the 1040 will now look like this