Drphibes
Level 7
08-11-2022
12:24 AM
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I stand corrected. Given other Sch A items such as state taxes, mortgage interest and such are allowed as excess deductions on termination, excess charity is not one of them.
Here is a clearer reference:
https://www.cpajournal.com/2017/09/15/greatest-hits-charitable-contributions/
a bit dated but the rules on this are the same.
Sorry guys, maybe I should be answering Q's on the board with a raging head cold 😉