@rmashruwala wrote:
Then why do they write "Gift to charity (50%/60%)" in line 10 under Itemized Deductions Summary in the worksheet?
Any reasonable person would think TT applies the proper limits after reading that line.
@rmashruwala
I would not make that assumption. Reading "50%/60%" on that line, I would assume it means that the line is intended only for 50%/60% contributions, and it will not apply any other percentage limits. It does apply the 60% limit. If they intended to handle other percentage limits, the form would give you a way to enter separate amounts and indicate what percentage applies to each amount. The fact that there is no way to enter contributions that are subject to lower percentage limits clearly indicates that those limits are not going to be calculated.
