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charitable contributions of capital gain property
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inez
Level 1
06-05-2020
02:58 PM
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How do you enter a charitable contribution of real estate to a 50% charity? I entered the data on the noncash contribution worksheet, and checked type of property: real estate, nonconversation. Proseries lists the property as noncash limited by 50% AGI, which is incorrect. Capital gain property contribution is subject to limit of 30% of AGI.
How else should I enter this contribution to get Proseries to calculate the limitation correctly?
Or is there a bug in the program that doesn't properly calculate a capital gain property contribution to a 50% charity?
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