Use higher percentage category overall amounts first

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Unformatted text preview: rall limitation applied next. Use higher percentage category Overall amounts first. amounts 15,000 10,000 25,000 40,750 40,750 30% category amount 50% category used to max out overall limitation Total charitable deduction Total carryover (50,750 - 10,000), carryover $35,750 subject to 30% limitation $35,750 44 Charitable Contributions SUBSTANTIATION x Contributions of $250 or more require written Contributions acknowledgement by the donee organization. acknowledgement x Noncash contributions of $500 or more require a Noncash description of the property on Form 8283 description x Noncash contributions of $5,000 or greater must Noncash have an independent appraisal have x Car allowance of 14 cents per mile is permitted for Car rendering charitable services rendering x Parking Fees and Tolls are in addition to Mileage 45 Charitable Contribution Considerations Pension Protection Act of 2006 x All Cash Donations must be documented (e.g., a All cancelled check or a written communication from the recipient charity- e...
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