Charitable tax deduction question
- From: "Frank103" <frank103@xxxxxxx>
- Date: Sat, 25 Feb 2006 11:55:25 -0800
I am considering doing a retained life estate with a large charitable
organization. The charity tells me, based upon the value of my personal
residence, that I will receive a charitable income tax deduction of
$140,812. Can someone please answer several questions:
1. How many years do I have to use the full amount of the tax deduction? Is
there any time limit involved ?
2. Am I limited in the amount I can use in any given year?
3. Will the alternative minimum tax enter into this if my taxes are
really low for any given year?
Any help given in this matter is greatly appreciated. Thanks
Frank
.
- Follow-Ups:
- Re: Charitable tax deduction question
- From: Paul Thomas, CPA
- Re: Charitable tax deduction question
- Prev by Date: Re: Trouble at H & R Block
- Next by Date: 401K underfunded
- Previous by thread: Trouble at H & R Block
- Next by thread: Re: Charitable tax deduction question
- Index(es):
Relevant Pages
|