Charitable Gifts Of Limited Partnership
And Limited Liability Company Interests

Individuals routinely propose making charitable gifts of interests in limited partnerships (LPs) and limited liability companies (LLCs). They do so having scant idea how such a gift will work from a federal tax standpoint.

Sometimes, a charitable gift of an interest in an LP or LLC works out relatively well for the donor from a federal tax standpoint. In these situations, it remains important to analyze the proposed gift from the donee organization’s point of view, especially with regard to unrelated business income (UBI), a possible obligation to make additional capital contributions and marketability of the donated interest… Read more