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  #1  
Old 03-30-2009, 03:45 PM
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Charitable contributions

What is the name of your state (only U.S. law)? CA

What is the maximum amount that can be deducted from a general partnership for charitable contributions?
  #2  
Old 03-30-2009, 06:49 PM
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$0. Partnerships don't deduct charitable contributions, they report them to the partners.
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Old 03-30-2009, 08:21 PM
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The company had made deductions for charitable contributions in the past. Perhaps better phrased is the question: what is the max. amount deductible for a partner in the business?
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Old 03-30-2009, 08:32 PM
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Thats up to each individual partner.
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Old 03-30-2009, 08:40 PM
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Is there a limit though? Certainly something must be published somewhere.
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Old 03-31-2009, 01:33 PM
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Quote:
Originally Posted by infocus View Post
Is there a limit though? Certainly something must be published somewhere.
An individual cannot deduct charitable contributions that exceed 50% of their AGI.
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  #7  
Old 03-31-2009, 02:30 PM
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You're assuming all partners are individual taxpayers, which is why I didn't answer the question. Many of my partnerships have trusts/partnerships/S-corps/c-corps as partners and the answer is different for each of them.
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