Non Cash Contributions - Investment Property

Question 1

What is the limitation on donating long-term capital appreciation property, donated at FMV, as a percentage of AGI?

Answer 1

30% for 50% Qualified Charities

20% of 30% Qualified Charities

Question 2

T or F

Only the basis of capital gain property held for less than a year can be deducted

Answer 2

True.

It best to donate long-term capital gain property so that can get full deduction on FMV up to 30% of AGI.