[Anonymous]

I take Reg July 5th and I am reviewing all of the Becker material. I just want to clarify and make sure I am right on charitable contribution deductions because I keep confusing myself while reading over Becker’s section on it, and I don’t want to walk in test day and panic and get all confused.

If you contribute property that you have had for less than a year, the deduction amount is the lesser of its basis or FMV when contributed.

If you contribute property that you have had for more than a year, the deduction amount is the lesser of 30% of AGI or the FMV.

If you contribute cash, the deductible amount is the lesser of 50% of AGI or the actual amount of cash contributed.

Are those above sentences correct, and I am missing any other info I should need to know? Thanks for the help!!