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My business donated $10,000 cash to a nonprofit organization. Which contributions limits should I use. A. Cash Contributions 60% or G. Contributions 100%? Please help.
I am at the part of Turbotax where it is asking for Charitable contribution entry and there is a list to choose from. A. Cash Contributions (60%)...... and the last entry is G. Contributions (100%).
What are these percentages mean and which one is the most appropriate for my situation.
Please help. thank you so much in advance.
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June 3, 2019
10:19 AM
Anonymous
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Retirement tax questions
Thank you so much for you response. It looks like you are an exert in this tax area and I am just learning about it. If you don't mind, can you please explain what the various different percentages mean and why in my situation, a 60% limitation is most appropriate. Thank you again.
June 3, 2019
10:19 AM
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