I am interested in donating highly appreciated shares to charity. I understand there is a deduction limit (30% of adjusted gross income) and carry forward rules. It looks like you can only carry forward 5 years and always have to deduct contributions made in the current year before applying carry forward deductions. If you donate too much or too fast, you may not get the deduction.
So you should estimate your AGI at the end of the year (that may be difficult) and make a donation around 30% of that before the end of the year. Do I have that right?
Are there any resources for planning that out? Is there a trustworthy spreadsheet or calculator for this?
So you should estimate your AGI at the end of the year (that may be difficult) and make a donation around 30% of that before the end of the year. Do I have that right?
Are there any resources for planning that out? Is there a trustworthy spreadsheet or calculator for this?
Statistics: Posted by jetstream — Tue Jul 09, 2024 11:11 pm
