Charitable Giving Options - WGBH

Jeremiah W. Doyle IV, Esq.

October 2, 2026

Agenda

• Cash, Checks and Credit Cards
• Gifts of Appreciated Stock
• Gifts of IRAs to Charity, Including Qualified Charitable Distributions (QCD)
• Charitable Gift Annuities
• Charitable Remainder Trusts
• Tangible Personal Property (Art and Collectibles)
• Cars, Boats and Airplanes
• Bargain Sale
• Real Estate
• Bitcoin
• Private Equity/Hedge Funds/Carried Interests
• Estate and Gift Tax
• Summary
• Appendix

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2

Cash, Checks, Credit Cards

Always in Style

Non-Itemizers

• New above-the-line deduction ($1,000 or $2,000 for married filing joint). Not indexed for inflation. §170(p).
• Cash only. DAFs and supporting organizations do not qualify.

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Itemizers

• Limited to 60% of AGI
• Easiest way to donate

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3

Publicly Traded Stock

Publicly Traded Securities

• Includes stocks, bonds or mutual funds
• Can give away the gain
• Exception: securities in a loss position

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4

Gift of Appreciated Stock

General Rule

• Can deduct FMV if asset held more than one year and given to a public charity

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• Gift of tangible personal property put to unrelated use is limited to its basis
• Deduction is limited to 30% of AGI (although an option to have the 50% of AGI apply)
• Donor can “give away the gain”, i.e., donor escapes tax on the appreciation
• Sell “loss” property, deduct loss and give proceeds to charity

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5

Example of “Giving Away the Gain”

Example of Tax Savings on Gift of Appreciated Securities

$10,000 FMV x 35% = $3,500

( $1,000) Basis

$ 9,000 Gain

.20 Capital Gain Rate

$ 1,800 Tax $1,800

Tax Savings $5,300

Extra $342 of savings if subject to 3.8% surtax on NII

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Cost of Charitable Gift: $10,000 - $5,300 = $4,700

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6

Tax Consequences of Leaving an IRA to Charity

Lifetime gift

• Not a “wash”
• Use a “qualified charitable distribution” – a so-called IRA charitable “rollover”

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Death

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• Best result: name charity directly as the IRA beneficiary

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7

Tax Consequences of Leaving an IRA to Charity

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Not a “wash”

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IRA distribution $100,000

AGI $100,000

Charitable Deduction (60% of AGI) $ (60,000)

Taxable Income $40,000

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Take Distribution, Pay Income Tax

• Charitable deduction may not offset IRA distribution included in income
• 60% of adjusted gross income (AGI) limit on cash gifts to charity
• Actuarial value of remainder interest for gift to charitable remainder trust (CRT)

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• No deduction for nonitemizers – but that changes in 2026

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• 10% penalty if IRA owner under 59 ½. A charitable deduction does not reduce this penalty.

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• May be subject to state income tax if state does not allow charitable deduction

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• Increases AGI resulting in loss of income tax benefits e.g. medical deduction, net investment income tax threshold, taxation of social security benefits, increase in medicare premiums, etc.

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9

Tax Consequences of Leaving an IRA to Charity

No Estate Tax

• Qualifies for a federal estate tax charitable deduction

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No Income Tax

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• To donor or donor’s estate
• Charity not taxed on proceeds

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• Tax efficient gift – for a cost of roughly 25% to heirs (if IRA is subject to estate and income tax), 100% of an IRA can be devoted to a charitable purpose.

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10

IRA Charitable “Rollover”

Exclusion from gross income – Qualified Charitable Distribution

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• Exclusion from Gross Income

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• Up to $100,000 per taxpayer, per year (up to $111,000 for 2026)

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• From a traditional IRA or Roth IRA

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• For “qualified charitable distributions”

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• For an IRA owner who has attained age 70½ on the date of distribution

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• No “quid pro quo.”

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• Need “contemporaneous written acknowledgement” – no goods or services

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11

IRA Charitable “Rollover”

Plans Not Eligible to Make “Qualified Charitable Distribution”

• 401(k)
• 403(b)
• Defined Benefit Plan
• Defined Contribution Plan/Profit Sharing Plan
• Keogh Plans
• “Ongoing” SEPs
• “Ongoing” SIMPLEs

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• Note: QCD can be made from an inactive SEP or SIMPLE (Notice 2007-7)

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12

IRA Charitable “Rollover”

Exclusion from gross income – Qualified Charitable Distribution

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• Distribution made on or after the IRA owner reaches age 70 ½

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• Distribution from traditional IRA or Roth IRA

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• Made directly by IRA administrator

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• To an organization described in §170(b)(1)(A)

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• Excludes donor advised funds and supporting organizations

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• The payment would otherwise fully qualify for a charitable income tax deduction

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• A QCD in an amount up to $55,000 (2026 amount) can be made to a “split interest” entity.

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13

IRA Charitable “Rollover” – Qualified Charitable Distribution

Benefits of Qualified Charitable Distribution (QCD)

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• Distribution is excluded from gross income, i.e., it is not taxable

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• Distributions from the IRA don’t increase adjusted gross income

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• Can mitigate surcharges on the monthly Medicare premiums

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• Provides tax savings from charitable gifts for taxpayers who do not itemize due to the larger standard deduction

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• For those age 70 ½ or older who itemize, there is no AGI limitation, no 0.5% floor and no 2/37 “haircut”

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• QCDs count towards a taxpayer’s required minimum distribution

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• Taxpayers should do the QCD before withdrawing the full required minimum distribution for the year

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• Taking a QCD will reduce the IRA balance for purposes of calculating the amount of required minimum required distributions that have to be taken in future years

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14

IRA Charitable “Rollover”

Exclusion from gross income – Qualified Charitable Distribution

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• Qualified charitable distribution (QCD) – the 70 ½ age still applies for QCD purposes

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• Under SECURE Act, an individual who is still working and had earned income can make a tax-deductible contribution to an IRA after age 70 1/2 .

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• Under SECURE Act any QCD must be reduced by the tax-deductible contribution made to the IRA after age 70 ½ . Must reduce the QCD for ALL tax-deductible IRA contributions made after ago 70 ½.

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• Example: Person over 70 ½ makes tax deductible contributions to an IRA in 2020, 2021 and 2022 but makes no QCD during those years. He makes a QCD in 2023. He must reduce the QCD by the amount of the tax-deductible IRA contributions he made in 2020, 2021 and 2022.

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15

IRA Charitable “Rollover”

Exclusion from gross income – Qualified Charitable Distribution

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• How to Report QCD on 2025 Form 1040:

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• IRA custodian reports IRA distribution on Form 1099-R as a distribution

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• IRA owner reports IRA distribution on Form 1040, Line 4a but reports taxable distribution on Line 4b
• QCD omitted from line 4b – enter “0” as amount of taxable distribution
• Enter “QCD” next to line 4(b) in the margin of the tax return

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• QCD not disclosed as itemized charitable deduction on Schedule A, Itemized Deductions

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• Relieves IRA custodian from determining if distribution qualifies as QCD

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• Burden on IRA owner to determine if distribution qualifies as QCD

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• New for 2025 tax returns – QCD will have an optional Code Y in Box 7 on the 1099-R

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16

Naming Charity as a Beneficiary of a Qualified Plan

Retirement Equity Act of 1984

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• Applies to Most Qualified Plans

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• Spouse has Rights in Qualified Plan

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• If Beneficiary of Plan is Other Than Spouse:
• Waiver Needed
• Spouse Must Consent to Waiver

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• Doesn’t Apply to IRAs

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• Be Careful of IRA Rollovers from Qualified Plans

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17

Charitable Gift Annuity

General Rule

• A simple way to make a gift to charity and still receive income for yourself or others

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• A CGA is a contract under which the charity, in return for a transfer of cash or other property, agrees to pay a fixed sum of money for a period measured by one or two lives

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18

Charitable Gift Annuity

General Rule

• Taxpayer transfers money or property to charity in return for a promise by the charity to pay an annuity to the taxpayer or another
• Receives a guaranteed income for life
• Provides cash flow where otherwise there was none
• Donor’s income is a fixed percentage of the gift and remains constant for life
• Taxpayer has two goals:
• Get a fixed stream of income for the annuity period
• Make a charitable gift
• Transaction treated as in part purchase of an annuity and in part a charitable contribution
• To reflect the gift element, the annuity rate in the GCA is lower than the rate paid on a commercial annuity.
• Charity decides the rate it will pay
• Usually the rate recommended by the American Council on Gift Annuities
• Results in average residual gift to charity of approximately 50% of the amount donated

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19

Charitable Gift Annuity

General Rule

• In return for transferring assets to a charity, the charity agrees to pay a fixed sum of money – the annuity – for a specific time to the Donor or/or another annuitant

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• Annuitant gets guaranteed income
• To reflect the gift element, the annuity rate of a CGA is lower than the rate paid on a comparable commercial annuity
• Portion of payment may be income tax-free

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• Donor receives income tax charitable deduction and may save capital gains tax

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• Charity gets property at end of annuity term

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20

Charitable Gift Annuity

General Rule

• Capital gain incurred when gift annuity is funded with appreciated property

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• Capital gain not all reported in year of transfer
• Reported ratably over annuitant’s life expectancy of (1) the annuity is non-assignable and (2) the donor is an annuitant

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• If a two life annuity is funded with one of the annuitant’s separate property, the gain may be spread over only the LE of the purchaser/annuitant
• If a two life annuity is funded with the donor’s joint property, the gain may be spread over their joint LE.

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Charity

Donor

Beneficiaries

Assets

Tax Deduction

Annuity

How It Works

Charity

Remainder

Benefits

Charitable Gift Annuity

Deferred Capital Gain Tax

Income Tax Deduction

Fixed Income for Life

Simplicity

Charitable Gift Annuity

General Rule

• The annuity is a general obligation of the charity so the entire assets of the charity are subject to the annuity obligation

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Charitable Gift Annuity

General Rule

• Annuity based on rates set by American Council on Gift Annuities
• Discourage competition among charities
• Ensure that at least 50% of the money or property used to fund the annuity is left at the death of the annuitant

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• Rates are conservative
• To ensure that charity receives a significant benefit
• To minimize possibility that charity will dip into its assets to pay the annuity payments

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• Terms of CGA vary
• may be for single life, joint and survivor or for multiple lives
• Annuity payments may begin immediately upon purchase or be deferred

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Charitable Gift Annuity Rates

Effective 1/1/2024

Charitable Gift Annuity

General Rule

• Annuity may be:
• Single life, payable over the life of one annuitant
• Joint and survivor, payable over the life of multiple annuitants
• An immediate annuity or a deferred annuity
• Deferred annuity gives donor an income tax deduction at the time of funding the annuity even though the payments on the annuity are deferred to a future date
• Donor gets current income tax deduction while he may be in a higher income tax bracket but payments could begin when he is in a lower income tax bracket
• The deferred gift annuity is based on the rate of return on the value of the gift at the time the payments are scheduled to begin rather than the value at the time of transfer
• Payable annually, semi-annually, quarterly, monthly or more frequently

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Charitable Remainder Trust

Summary

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• Pays Fixed Dollar Amount or Percentage of Initial or Annual Value

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• To a Noncharitable Beneficiary

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• For Life or Up To 20 Year Term

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• Terminates in Favor of Charity

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Charitable Remainder Trust

How It Works

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• Donor Establishes CRT

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• Donor Contributes Assets

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• Trust Sells Contributed Asset
• No Capital Gain
• 100% Available for Reinvestment

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• Payments Made to Beneficiary
• For Life
• Up to 20 Years

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• Charity Receives Balance at Termination

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CRT

Donor

Beneficiaries

Assets

Tax Deduction

Periodic Payments

How It Works

Charity

Remainder

Benefits

Charitable Remainder Trust

Avoid Capital Gain Tax

Income Tax Deduction

Reduce Estate Tax

Increased Cash Flow

Tangible Personal Property

Amount of Deduction – Fair Market Value or Cost Basis

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• General Rule: Donor’s income tax charitable deduction equal to FMV (up to 30% of AGI) for contribution of LTCG tangible personal property to a public charity if property is put to a related use by the charity. §170(e)(1)(B)(i).

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• If the property is not put to a related use, the donor’s deduction is limited to the property’s cost basis (up to 50% of AGI). Reg. 1.170A-4(b)(3)(i).

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• General Rule: taxpayer’s deduction is limited to cost basis for contribution of tangible personal property to a private charity. §170(e)(1)(B)(ii).

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Tangible Personal Property – Art and Collectibles

Sale of TPP Valued over $5,000 by Charity within 3 Years of Gift - §170(e)(7)

• Must be reported to IRS and donor on Form 8282
• If sale occurs in year of gift, deduction may be limited to cost basis
• If sale occurs in year subsequent to gift, may be required to report as ordinary income in the year of sale an amount equal to the excess (if any) of (1) the amount of the charitable deduction claimed by the donor over (2) the donor’s basis in the donated property at the time of the contribution.

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Exceptions

• Charity “certifies” under penalty of perjury by an officer of the charity that property was put to a related use and either:
• Certifies that the property’s use was related to the charity’s exempt purpose and describes how the property was used and how the use furthered the exempt purpose; or
• States the intended use of the property by the charity and certifies that such intended use became impossible or infeasible to implement.

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Tangible Personal Property

Art and Collectibles

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• 28% Maximum Capital Gain Rate

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• Related Use Issue

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• Gifts of Future Interests

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• Gifts of Partial Interests

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• Fractional Gifts of Art
• Use and possession restrictions

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• Carrying Costs

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• Substantiation Requirements
• Qualified appraisal if value is over $5,000
• Qualified appraisal must be attached to return if value over $500,000 ($20,000 for art)

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Amount of Deduction – Fair Market Value or Cost Basis

Tangible Personal Property

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• Long-term capital gain property – deduction = FMV if for related use
• LTCG is property defined in §1221 held for more than 1 year
• “Collectibles” subject to maximum tax of 28%

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• Ordinary income property – deduction = cost basis §170(e)(1)(A)
• Created by donor §1221(a)(3)(A)
• Enacted partially as a reaction to large federal tax deduction obtained by President Nixon for his donation of his vice-presidential papers
• Received by donor as gift from creator
• Donee’s basis in item is determined by reference to the creator’s basis – under §1221(a)(3)(C) donee’s sale of item would not produce LTCG
• Held in inventory by dealer
• Results in short-term capital gain

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Cars, Boats and Airplanes

Deduction Depends on Whether Charity Retains or Sells the Property

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• If charity retains and uses property in furtherance of its exempt purpose, donor may deduct FMV

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• If charity sells, deduction in excess of $500 limited to the gross proceeds from sale

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Bargain Sale

Rule

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• Sell appreciated capital gain property to charity for less than fair market value as alternative to outright gift

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• Owner treated as selling part of asset and making a charitable gift of the balance

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• Basis of property must be proportionately allocated between portion sold and portion gifted

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Bargain Sale

FMV of appreciated asset: $400,000

Cost basis of asset: $100,000

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Sells to charity for $100,000 (25% of asset’s FMV)

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Proceeds $100,000

Basis (25% x $100,000) ( 25,000)

Gain $75,000

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FMV $400,000

Portion sold (100,000)

Charitable gift $300,000

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38

Real Estate

Unencumbered Real Estate to Public Charity

• Deduction equal to FMV, limited to 30% of AGI
• Deduction equal to basis, limited to 50% of AGI
• Private foundation, deduction equal to cost basis
• Qualified appraisal required if FMV of real estate is over $5,000

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Encumbered Real Estate

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Mortgaged Real Estate

• Only equity is deductible
• Bargain sale rules apply – treated as sold for amount of indebtedness
• UBTI from debt financed income
• 5x5 exception for lifetime gifts of encumbered real estate
• Use “hold harmless” agreement
• Give charity option to purchase, charity then sells option

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Real Estate

Concerns

• Illiquid
• Title issues including easements, access issues, encumbrances, debt
• Environmental liability
• Carrying costs

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Real Estate – Gift to Single Member LLC

Notice 2012-52

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• Allows a charity to accept gifts of real estate or other problem assets in a way that will not expose the charity’s other assets to environmental or other types of property-related liabilities

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• A contribution to a disregarded single-member LLC, wholly owned and controlled by a U.S. charitable organization will be treated as a charitable contribution to the charity.

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• The donor will be entitled to the same charitable deduction allowable under Section 170(a) for a gift directly to the charitable organization owning the LLC.

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• The charitable organization owning the LLC is treated as the donee for purposes of the substantiation and disclosure rules

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Real Estate

Remainder Interest in Personal Residence or Farm

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Conservation Easement

• Restriction on use of land
• Can deduct value of conservation easement

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Taking/Eminent Domain

• Excess of FMV over amount paid is deductible
• Must have agreement with taking authority that donor intends to give the excess value to charity
• Need timely appraisal

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Bitcoin

Virtual Currency e.g. Bitcoin

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• Bitcoin is property, not currency. IRS Notice 2014-21. See also supplemental guidance provided in Rev. Rul. 2019-24.

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• Defined by IRS as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.”

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• Traditional gain or loss principles apply

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Bitcoin

CCM 202302012 (dated 1/13/2023) – Charitable Contributions of Cryptocurrency

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• Addresses charitable contributions of cryptocurrency.

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• Previously, in Notice 2014-21 the IRS said cryptocurrency is property.

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• Since cryptocurrency is a non-cash appreciated asset, where a deduction of more than $5,000 is claimed, a qualified appraisal is required.

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• The determination of value, based on the value reported by a crypto exchange in lieu of an appraisal is insufficient. The reasonable cause exception of Section 170(f)(11)(A))(ii)(ll) does not excuse noncompliance with the qualified appraisal requirement.

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• Side note: if the crypto is sold within 3 years, the charity must file Form 8282 with the IRS and furnish a copy to the donor.

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Bitcoin

Implications for donor

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• Amount of charitable deduction – is it long-term capital gain property or ordinary income property in hands of donor?
• Long-term capital gain – FMV subject to 30% of AGI limit, 5-year carryover
• Ordinary income – cost basis subject to 50% of AGI limit, 5-year carryover

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• Appraisal requirements
• Gift > $500 – Form 8283
• Gift > $5,000 – qualified appraisal

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• Problems
• Will bitcoin qualify as a publicly traded security? No.
• Who can qualify as a “qualified appraiser”
• Compliance with federal and state securities laws needed?

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Bitcoin

Charity concerns

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• What is the donation process?
• Donate through a processor, such as BitPay to immediately convert donation to cash
• Donate to a virtual currency “wallet” if the charity wants to hold the Bitcoin

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• How does the charity convert bitcoin to cash?
• BitPay will process payments to 501(c)(3) charities for free. Giving Block is another alternative.
• Gift acceptance policy should encourage automatic conversion to cash to avoid price volatility

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• What are the acknowledgement, compliance and substantiation requirements?
• Over $250 – contemporaneous written acknowledgement
• Over $500 – Form 8283
• Over $5,000 – qualified appraisal

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• Donate highly appreciated private equity fund interests to a public charity, including a donor-advised fund

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• Donor receives a FMV (as determined by a qualified appraiser) income tax charitable deduction

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• Quarterly fund valuations may not be a qualified appraised value of the interest and the interest being transferred would be subject to a valuation discount

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• Eliminates tax liability on fund distributions

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• Public charities may be unwilling to accept gifts of private equity interests because they lack the resources to properly manage complex illiquid financial assets such as private equity or hedge fund interests

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• Donations must be approved by the private equity fund’s general manager and accepted by the charity or donor-advised fund.

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• Some private equity funds have established charitable giving programs to enable their investors to make a charitable transfer of partnership interests or distribution of portfolio company stock prior to a sale.

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• The charity or donor advised fund will generally not assume liabilities associated with private equity investments.

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• Donors should plan to contribute sufficient liquid assets to cover private equity funds open commitments, UBTI or other liabilities

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• If the fund has debt, the donor may be liable for taxes if the contribution is treated as a bargain sale.

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• UBTI issue on debt financed income

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• To realize the full value of the investment, the charity or donor advised fund must normally hold the private equity investments until the scheduled termination date or liquidity event.

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• Sales of private equity interests in the secondary market prior to the termination date or liquidity event may be subject to substantial discounts

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• Avoid personal benefits for contributions to a donor advised fund

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• No management fee – Interests contributed to a donor advised fund should not be charged a management fee, incentive fee or carried interest because the principal of the fund would be paid a portion of that fee. There should be a separate no-fee share class created for the contribution, or a waiver of fees agreement between the principal making the contribution and the donor-advised fund

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• Not counted toward the principal’s minimum – the fund may require that the principal have a minimum amount of assets invested in the fund. Any interest owned by the principal’s donor-advised fund should not be counted toward that minimum as that could be deemed to be an indirect private benefit

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• No ‘endorsements” – charities that operate donor-advised funds won’t accept the gift of a fund interest that constitutes more than 10% of the fund’s value. The reason is that potential investors may think that a donor-advised fund’s acceptance of a greater percentage is an endorsement of the fund which could constitute an indirect benefit to the principal

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Contribution of Business Interest

Private Equity/Hedge Fund/Carried Interest

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• Donor advised funds may require a signed, written donation agreement covering the following issues before accepting an interest in a private equity fund or hedge fund:

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• A representation that the contribution is less than 10% of the total value of the fund;

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• Confirmation that no management fees, incentive fees or carry is being charged on the fund interest being contributed;

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• An agreement to hold the donor advised fund harmless against future liabilities that may be incurred such as capital calls, clawbacks or other liabilities;

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• That tax on UBTI be covered either by income distributions from the private equity fund or hedge fund or from an additional contribution from the donor

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• The donor advised fund may sell its interest at any time based on the redemption terms of the fund

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Estate and Gift Tax

Estate Tax

• Unlimited charitable deduction for items included in decedent’s gross estate
• Equal to FMV
• Value of property must be included in the gross estate
• Charitable gift by disclaimer
• The amount of the deduction does not differ based on the type of charity, i.e., public charity v. private non-operating foundation.

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Gift Tax

• Unlimited charitable deduction
• Qualifies for income tax charitable deduction also
• The amount of the deduction does not differ based on the type of charity, i.e., public charity v. private non-operating foundation.

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Summary

Charitable deduction rules are complex

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Factors for lifetime gifts:

• Value of gift to be deducted – fair market value v. cost basis
• Type of property gifted – cash, ordinary income property or LTGC
• Type of organization – public charity v. private foundation

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Different rules apply for income, estate and gift tax purposes and fiduciary income tax purposes

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Appendix

Changes to Charitable Giving Rules by the OBBBA

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Summary of Charitable Deduction Rules

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Summary of Substantiation Rules for Charitable Gifts

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Changes to Charitable Giving Made by OBBBA

Non-Itemizers

• New above-the-line deduction ($1,000 or $2,000 for married filing joint). Not indexed for inflation. §170(p).
• Cash only. DAFs and supporting organizations do not qualify.

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Permanent extension for 60% AGI limit for cash gifts

• Must be gift to public charities, including DAFs and supporting organizations
• No longer need to be all cash gifts to qualify for the 60% of AGI limit. Can make charitable gift of property and fill out the balance up to 60% of AGI with cash
• Appears to apply retroactively to 2025. File amended returns?

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56

Changes to Charitable Giving Made by OBBBA

0.5 Floor – 0.5.% of taxpayer’s AGI is not deductible

• The reduction is 0.5% of AGI, not 0.5% of the charitable deduction

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• Example: AGI of $1,000,000 means $5,000 (0.5% x $1,000,000) is not deductible. A charitable gift of $40,000 would yield a $35,000 charitable deduction.

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• How does this apply to the various AGI limitations? Applied to less favorable AGI limitation categories first (20%, 30%, 50%, 60% in that order).

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• 0.5% floor amount can be carried forward only if AGI limits are exceeded. Makes it difficult to carry forward the 0.5% floor amount. §170(d)(1)(C)(i).

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Changes to Charitable Giving Made by OBBBA

Revised Section 68 – 2/37 Reduction in Itemized Deduction for Some

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• Itemized deductions reduced by 2/37 of the lesser of:
• Itemized deductions, or
• Taxable income (with itemized deductions added back) exceeding the 35% tax bracket.

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• Goal is to limit itemized deductions to a 35% benefit.

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• The reduction applies after all other limitations

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• Effective for tax years after December 31, 2025

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Changes to Charitable Giving Made by OBBBA

Revised Section 68 – 2/37 Reduction in Itemized Deduction for Some

• Calculation: AGI of $1,000,000. Charitable gift of $100,000. Other itemized deductions of $20,000. 37% bracket for married filing joint in 2026 begins at $768,700.

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• First reduction: 0.5% reduction: $1,000,000 AGI x 0.5% = $5,000.
• $95,000 charitable deduction + $20,000 other itemized deductions = $115,000 x 2/37 = $6,216.

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• Second reduction: $1,000,000 AGI less $768,700 (37% bracket threshold) = $231,300 x 2/37 = $12,503

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• Reduction is $6,216. Itemized deductions: $115,000 - $6,216 = $108,784

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Summary of Charitable Deduction Rules

* 60% for gifts of cash – made permanent by the OBBBA

* Artwork includes sculptures, watercolors, prints, drawings, ceramics, antiques, decorative arts, textiles, carpets, rare manuscripts, historical memorabilia and other similar objects. Instructions to Form 8283.

Substantiation - Six Categories of Property

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Thank you!