Charity deduction question

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  • January 20, 2020 at 10:52 pm #2896083
    ssaetern
    Participant

    Hello. How would you figure the deductible amount if you gave cash, and appreciated property? For example lets say you donated $10,000 cash and appreciated stock worth $20,000. For cash I know it’s 60% of AGI and appreciated property is 30%. Would you calculate each item amount separately? Thanks.

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  • January 20, 2020 at 11:31 pm #2896137
    ssaetern
    Participant

    I forgot to include AGI. Lets say AGI was $100K.

    January 21, 2020 at 5:55 pm #2897253
    FutureCPA2020
    Participant

    The maximum combination is $60K, not to exceed the maximum of either category.

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