[Not a Quitter]

Are charitable contributions limited to 30% or 50% of AGI? I think I’m going crazy as I swear I’ve seen both more than once in CPA Excel.

FAR- 85 I'm DONE!
BEC- 75
REG- 60,60,75
AUD- 74,74,83

CPAExcel used for BEC, AUD, REG
Exam Matrix used for FAR plus NINJA Blitz, cpareviewforfree and a little CPAExcel

[sarita]

I feel like I emptied my brain of REG right after I took my exam but I think 30% is if the taxpayer donated property. 50% if it's cash. And remember it's only 10% for corps.

FAR 7/3/13 - 82
BEC 8/21/13 - 82
AUD 10/2/13 - 92
REG 12/3/13 - 88

DONE!!!! CA Candidate
Beat the 12/31/13 clock!

[sarita]

I feel like I emptied my brain of REG right after I took my exam but I think 30% is if the taxpayer donated property. 50% if it's cash. And remember it's only 10% for corps.

FAR 7/3/13 - 82
BEC 8/21/13 - 82
AUD 10/2/13 - 92
REG 12/3/13 - 88

DONE!!!! CA Candidate
Beat the 12/31/13 clock!

[PJJW90810]

General rule is 50%, but there are two 30% limitation exceptions.

1. There's a 30% limit when you are contributing to a non-50% charity such as a veterans charity, fraternity, etc.

2. There is another 30% limit for capital gain property as sarita mentioned. Becker has some MCQs regarding this and contributing appreciated property.

Hope this helps.

FAR: 77 (08/07/13)
AUD: 78 (08/29/13)
REG: 76 (11/07/13)
BEC: 79 (12/06/13)
Ethics: 98%

Application sent 12/31/13

Used Becker Self-Study

[PJJW90810]

General rule is 50%, but there are two 30% limitation exceptions.

1. There's a 30% limit when you are contributing to a non-50% charity such as a veterans charity, fraternity, etc.

2. There is another 30% limit for capital gain property as sarita mentioned. Becker has some MCQs regarding this and contributing appreciated property.

Hope this helps.

FAR: 77 (08/07/13)
AUD: 78 (08/29/13)
REG: 76 (11/07/13)
BEC: 79 (12/06/13)
Ethics: 98%

Application sent 12/31/13

Used Becker Self-Study

[Author]

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