Birdwatch Note Rating
2024-04-10 10:59:04 UTC - HELPFUL
Rated by Participant: CE37DB824B7F84A3CE6B0487F70323692311B3301BE1759371F432675BFCAE56
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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