The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Charitable Deduction Limitations/Reductions? Date:  9/6/1999  9:21 AM
Author:  CheetahChrome Number:  18670 of 127513


I am trying to make sure I understand how one's deductions for charitable contributions can be reduced or limited.

As I underatand it, one may deduct contributions (let's say cash, to make it easy) to charitable organizations in an amount up to 50% of your AGI. is this correct (I'm ignoring the rare 30% case)?

But something I'm confused about is whether there is some kind of reduction based on income (or AGI). Is it the case that deductions have to be greater than a certain % of income to be considered (e.g., only contributions greater than 3% of AGI are considered)?

Any help appreciated.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us