Charitable Deduction Limitations: Suspended

Tighe, Kress & Orr.

Posted By: Tighe, Kress & Orr.

Charitable deduction limitations are suspended under a hurricane relief bill. An individual generally can deduct charitable donations up to 50%, 30% or 20% of adjusted gross income, depending on the type of property contributed and the type of charity. The Disaster Tax Relief and Airport and Airway Extension Act of 2017 temporarily suspends most charitable contribution deduction limits for qualifying donations associated with qualified hurricane relief. The contributions must be paid during the period beginning on August 23, 2017, and ending on December 31, 2017.

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