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My thanks to everyone for your most thorough and exceptional contributions to this topic.  Russ, you're correct in that I received way more from this than I anticipated, and I'm grateful all the more for it.  For Wabash, at least for now, we will terminate the second of 3 PIFs, now with only one remaining, with no further plans in the near-term for creating a...

We received notice from Wells Fargo a week or two ago that did not require the inherited IRA so it may be in place already. Thank you Johni!

Lauren

At a certain level of complexity or detail, your advice to the donor is, here is the overview, talk with your tax advisors on the details.  And the overview is, assuming we are talking about what would have been long-term gain, (a) the contribution is not a recognition event, therefore you are not paying gains tax on the appreciation, (b) instead you are get...

I see how the syntax in my last contribution to this thread confused.  It was poorly worded.  I do know a charitable gift negates any tax on gain had the property been sold rather than given to charity.  Thanks for catching me on that.

The latest input corrects one source (external to this thread) who explained that the tax on capital gain is calculated separ...

Thank you!  Your response quite helpful, Russell. 

That is what I was inferring from your initial post.  Apparently the driving nontax concern here is that the spouse is likely to want to live in the house at some point, but we are unlikely to be able to get this characterized as a personal residence prior to your donor's death.  If he can trust her to do a retained life estate after she has established residenc...