Quote Originally Posted by David Merrill View Post
P.S. I refined it up a bit. Mostly I added mandatory exception as in the form found at Title 26 USC §508(c)(1).
The mandatory exception issue presumes that you want your CQVT to be treated as a 501(c)(3) charitable corporation, which, under 26 USC §508(c)(1), expects to have less than $5,000 per year of income. If you redeem all income in LM, then meeting the 508(c)(1) condition is easy, but then you may run afoul of this statement in 501(c)(3): "no part of the net earnings of which inures to the benefit of any private shareholder or individual,". I do not believe that the IRS wants individual persons to be exempt charitable organizations. Can you clarify your thinking on this?

Freed G