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NOTICETOCOTENANTofEXPENDITURE for BENEFIT of COMMONPROPERTY Demand for Contribution L&T20 Form

NOTICETOCOTENANTofEXPENDITURE for BENEFIT of COMMONPROPERTY Demand for Contribution L&T20 Form

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my today's topic is about how to calculate charitable contribution deduction I request CPAs lawyers tax preparers taxpayers students and Economist to subscribe to my channel to receive the most up to-date and accurate tax information to enhance your knowledge this is nashima the co of infotex square.com we are a team of CPAs and Es I'm going to explain it with an example after 4 years of holding land for investment em decides to donate it to a qualified nonprofit School M AGI is $88,000 the fair market value of the land were determined to be $32,000 on the day of donation 4 years ago Emy paid $119,000 for the land what is the limit for M2 make a deductible charitable contribution we have data available the property was held for 4 years taxpayer AGI was $80,000 property Fe market value is $32,000 basis in property is $199,000 what originally paid for by the M I'm going to explain it with the help of an Excel sheet so AGI is $80,000 since the property was held ove

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