[dllzf]

Hi All,
I am so lost on the becker example for the charitable contribution.
So the LTCG suppose to be 30% limitation, I get that 30% times AGI
However, why do we compare this with 50% AGI minus other deduction?

[Offthewall97]

Hey dllzf,

Keep in mind since we are taking REG in Q4 this year, the CARES act will be tested instead. So there is no limitation for individuals really (100% of AGI is the new ceiling). So focus on whether the contributions are eligible for deduction (ex: $ to needy families is not), rather than the old AGI ceilings. Good Luck!

AUD - 85
BEC - NINJA in Training
FAR - 76
REG - NINJA in Training

"Get busy studying, or get busy dying."

[Author]

Replies