Schedule A Charitable Contribution: Limitations
Vložit
- čas přidán 7. 09. 2024
- In this session, I discuss charitable contributions that goes on schedule A. I specifically discuss the type of contribution and the limitation.
✔️Accounting students or CPA Exam candidates, check my website for additional resources: farhatlectures...
📧Connect with me on social media: linktr.ee/farh...
#cpaexam #cpaexaminindia #professorfarhat
Your table is a perfect example in describing charitable contribution limits. Very helpful to me with my EA exam
Glad it was helpful! Thank you and please visit the website for more farhatlectures.com/ Start your free trial!
Do people need to report gift to charity on form 709 as well? Thank you!
Can you explain why we use 50% for cash when cash is usually 60% AGI? around 15:46 time
He previously mentioned at 11:00 that the TCJA reduced some itemized deductions. In response, Congress implemented a temporary 60% AGI limit for cash donations to certain qualified organizations. This applies to organization that is categorized as a '50% organization.' It seems he included an outdated slide (from around 15:46) that might be causing confusion. Just be aware that the 60% AGI limit applies to cash donations to qualified charities, which is called '50% organizations.