Gift Tax Return for Charitable Remainder Trust Donation

Technical topics regarding tax preparation.
#1
swgordon  
New client contributed appreciated stocks to a charity and received a noncash donation for around $250,000. I read through the paperwork from the charity and it appears that we need to file a gift tax return. I am not clear on the value of the gift to report.

FMV of Gift $729,929
Cost Basis $530,000
Present Value of Annuity: $41,606
Charitable Deduction $238,760

7520a Election was made to value the deduction.

On the personal return have filled out 8283 to report the Mutual Fund donation and limited the donation to the 7520a valuation.

I am attaching a Schedule A attachment provided by the charity and the 7520a election to my efile.

Question is: what do i report on the Gift tax return? Do I report the Charitable Deduction amount of $238,760 of which I would exclude $15,000?
 

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