Charitable contribution limits

shak0000 — Fri, 20 Dec 2024 16:31:41 GMT

Hi,

I am trying to understand why my charitable donations are limited to 50% of AGI and the rest designated for next year's carryover.

- Cash donations are less than 60% of AGI

- Non-cash (stocks) donations are less than 30% of AGI

- The two combined above are about 58% of AGI.

- TurboTax calculates "Allowed contribution" at 50% of AGI and puts the rest as carryover.

What am I missing here? Is there an overall limit of 50%?

Re: Charitable contribution limits

Mike9241 — Fri, 20 Dec 2024 17:45:05 GMT

from iRS pub 526 maybe this is the reason

4. Contributions of capital gain property subject to the limit based on 30% of AGI. Deduct the contributions that don’t exceed the smaller of:
a. 30% of your AGI, or
b. 50% of your AGI minus your contributions subject to the limits based on 60% or 50% of AGI (other than qualified conservation contributions).

topic Re: Charitable contribution limits in Deductions & credits

Charitable contribution limits

Re: Charitable contribution limits