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graywings123

Tax reduction with charitable donations

graywings123
15 years ago

Is there a quick way to computer the following?

For someone in, say, a 25 percent tax bracket, how much would you have to give an eligible charity in donations (items, not cash) to reduce your federal income tax by $300?

I understand that the items are not worth their full value when donated, and I know how to go about determining their value.

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