Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
preston
New Member

For limitations on donations to veteran's groups, define veteran's group, e.g. is an organization to support veteran's needs included in the % donation limitation?

 
1 Best answer

Accepted Solutions
KarenL2
Level 5

For limitations on donations to veteran's groups, define veteran's group, e.g. is an organization to support veteran's needs included in the % donation limitation?

It depends on how the charitable organization is listed with the IRS.  The 30 percent limitation applies to private foundations (code PF).  You can check the organization to confirm it is a qualified charitable organization by going to this link    Exempt Organizations  Then, go to this link Deductibility Status Codes to see if they are a 30% or 50% organization.


View solution in original post

1 Reply
KarenL2
Level 5

For limitations on donations to veteran's groups, define veteran's group, e.g. is an organization to support veteran's needs included in the % donation limitation?

It depends on how the charitable organization is listed with the IRS.  The 30 percent limitation applies to private foundations (code PF).  You can check the organization to confirm it is a qualified charitable organization by going to this link    Exempt Organizations  Then, go to this link Deductibility Status Codes to see if they are a 30% or 50% organization.


About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v