I have a "simple" scenario I would like an answer for, related to the deductability of several "flavors" of charitable donations to a "50% limit organization". Basically, I want to maximize my contribution of a significantly appreciated mutual fund, and then maximize my full itemizable charitable donation amount. EXAMPLE: With an AGI of $60,000, I believe the maximum value of the appreciated mutual fund that I can contribute and deduct is 30% of AGI or $18,000. Next, I believe I can make a further maximum donation of $12,000 of a combination of cash and household goods (Goodwill stuff, clothing, furniture, etc). Lets say roughly $7000 cash and $5000 household items. The total combined charitable donation amount not to exceed $30,000 or 50% of the AGI of $60,000. Is the above scenario correct/legit??
I do NOT wish to take into account the tax rules for 2020 related to increased limits in the CARES act, but only a "normal" tax year....
