14.17 Ceiling on Charitable Contributions

Unless you make donations that are very substantial in relation to your adjusted gross income (Line 38, Form 1040), you do not have to be concerned with the deduction ceilings discussed in this section. For cash contributions, the deduction ceiling is generally 50% of adjusted gross income, but in some cases a 30% limit applies. For property donations, the deduction limit is generally 30% of adjusted gross income, although it sometimes is 50% or even 20%. As detailed below, the specific limit for each donation depends on whether it is made to a “50% limit organization” and whether it is capital gain property. Where you have made contributions subject to different ceilings, the ceilings are applied in a specific order and are subject to an overall ceiling of 50% of adjusted gross income. If your deduction is limited by any of the ceilings, a five-year carryover is allowed for the excess (14.18).

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image Planning Reminder
Advance Valuation of Art From IRS
To protect against the possibility of a valuation dispute that could lead to a penalty where you are claiming a deduction of at least $50,000 for a work of art, you may request a valuation from the IRS prior to the time you file. See the guidelines for obtaining the IRS valuation (14.9).
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Volunteer expenses.

The deduction ceiling for unreimbursed expenses ...

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