Use of Charitable Remainder Annuity Trust (CRAT) to Eliminate Taxable Gain. In this transaction, appreciated property is transferred to a CRAT. Taxpayers improperly claim that the transfer of the appreciated assets to the CRAT in and of itself gives those assets a step-up in basis to fair mark...
Interest income earned and dividends received are recorded in Interest and other investment income in our Consolidated Statements of Operations. Available-for-Sale Financial Assets Financial assets classified as AFS are recorded at fair value in our Consolidated Statements of Financial Position and ...