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Glossary of Terms beginning with 3
- 30%/50% Deduction Rules
A donor’s income tax charitable deduction for a gift of cash to a public charity is limited to 50% of the donor’s adjusted gross income. A donor’s income tax charitable deduction for a gift of appreciated property held by the donor for more than one year is limited to 30% of the donor’s gross income if the deduction is based on the fair market value of the property. If a donor elects to take an income tax charitable deduction for a gift of appreciated property to a public charity based on the cost basis of the property, the AGI limitation is increased to 50%. Same rules for DAF – Family Foundation % not as attractive.