| Title | : | Income Limits on Charitable Deductions 3: Gifts to Private Foundations (updated) |
| Lasting | : | 10.10 |
| Date of publication | : | |
| Views | : | 1,3 rb |
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Hi Dr James, I have a business (single member LLC) auto, held for more than one year; 0 basis (due to 100 bonus depreciation); FMV $50,000 br1 When the business donated this car to a private foundation, would it be considered as a long-term capital gain asset? br2 Is the Income limitation passing through for 20 of AGI, at FMV of $50,000?brThank you Comment from : AlexChenFIRE |
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