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Charitable deductions for household items was just changed from a 50% limit to a 30% limit of AGI
I just noticed Turbotax changed the way my charitable deduction for household items was calculated from a 50% limit to a 30% limit of AGI. It is now treating my used house hold items like clothing as a capital-gain property and imposing a 30% limit. I think this is a recent error in Turbo Tax. Any thoughts?
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March 31, 2024
12:48 PM