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Deductions & credits
Well...maybe I'm wrong, but I thought a 50% charity was the top level charity.
Thus a 50% charity does now allow for a 60% of AGI cash donation....temporary since 2018, but now permanent.
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As to how the non-cash donations get mixed in to the limits, I'm clueless, but I've never approached any of the limits, so I've never investigated those details
BUT
In the 2024 desktop software, in a test file....I put in a $30,000 cash donation to a DAF (checked as 50% Charity) for a person with $45,000 AGI, and it limited the donation to 27,000.....which was 60% of the 45,000....so at least the all cash part seems to be working.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
4 weeks ago