Charitble contribution

  • Creator
  • #3120462

    Hi All,
    I am so lost on the becker example for the charitable contribution.
    So the LTCG suppose to be 30% limitation, I get that 30% times AGI
    However, why do we compare this with 50% AGI minus other deduction?

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  • Author
  • #3121860

    Hey dllzf,

    Keep in mind since we are taking REG in Q4 this year, the CARES act will be tested instead. So there is no limitation for individuals really (100% of AGI is the new ceiling). So focus on whether the contributions are eligible for deduction (ex: $ to needy families is not), rather than the old AGI ceilings. Good Luck!

    AUD - 85
    BEC - NINJA in Training
    FAR - 76
    REG - NINJA in Training
    "Get busy studying, or get busy dying."
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