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Level 3
posted Dec 16, 2021 9:33:01 AM

2021 Charitable Contributions Limit (Cash, Appreciated Assets AND Goodwill household items)

In 2021, with an AGI of $60,000, lets assume the following example of contributions:   

  1)  Appreciated stocks and mutual funds held more than 1 year : $18,000 to Fidelity Donor Advised Fund.   

  2)  Cash of : $7,000 to Fidelity Donor Advised Fund.

  3)  Household goods at Fair Market Value to Goodwill.  Various dates - all under $500 : $5,000 Total value.  

 

Appreciated assets are 30% of AGI (which I believe is the maximum).

TOTAL contribution is $30,000 or 50% of AGI.  

 

QUESTION:  Will the full amount of the donations, $30,000, be fully deductible with an AGI of $60,000 in 2021??  IF not, what would the limits be?? 

 

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1 Replies
Level 15
Dec 16, 2021 10:40:22 AM

Try using worksheet 2 at the back of IRS publication 526.  Use the 2019 version of pub 526, since the 2020 version includes the 100% limit for certain contributions that was only for 2020, and the 2021 publication is not released yet.

 

https://www.irs.gov/pub/irs-prior/p526--2019.pdf