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charitable contribution deduction

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charitable contribution deduction
An itemized income-tax deduction for donations of assets to Internal Revenue Service-designated organizations. Certain qualifications on this deduction apply, such as a contribution limit of 50% of a taxpayer's adjusted gross income. Of particular interest to investors is the option to donate appreciated property (that is, securities that have increased in value since acquisition) and to deduct the entire market value of the donated assets without being obligated to pay taxes on the capital gains. Donations of appreciated property may subject the taxpayer to the alternative minimum tax.


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Land Trust and claimed a charitable contribution deduction in the amount of $30,588,235.
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Excluded distributions cannot be claimed as charitable contribution deductions.
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This will allow for a charitable contribution deduction equal to the fair market value, which will normally be significantly higher than the gross proceeds from an auction.
New valuation rules apply to the charitable donations of vehicles by Lai, Richard; Mannino, Laura Lee / Review of Business
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