Birdwatch Note Rating
2024-04-10 10:28:39 UTC - HELPFUL
Rated by Participant: 0C4A618F4DB874A0379CC7D72D0C97610209D24369B3013CC9E036DA289EF63F
Participant Details
Original Note:
Appraisals don’t work like that, and can be challenged by the IRS. https://www.journalofaccountancy.com/issues/2010/jul/20092096.html The deduction limit for charitable contributions is max 60%, so millionaires will still have to pay some taxes. https://www.irs.gov/publications/p526#:~:text=Your%20deduction%20for%20charitable%20contributions,or%2050%25%20limits%20may%20apply.
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