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Gifts of Cash
(Gift example*)

For charitable gifts of cash, the IRS allows you to claim up to 50% of your adjusted gross income ("AGI"). However, for charitable gifts of appreciated assets, you may deduct up to only 30% of AGI in any one year. The good news is that with both types of gifts if you cannot use all of the deduction in any one year, then you may carry over any remainder for the next five years. We have illustrated this below.

Gift of:

Cash

Appreciated Assets

Donor's AGI

$300,000

$300,000

Amount of gift

$200,000

$200,000

Total charitable deduction

$200,000

$200,000

Deductible against % of AGI

50%

30%

Deduction in first year

$150,000

$90,000

Net taxable income, first year

$150,000

$210,000

Net tax in first year @35% rate

$52,500

$73,500

Carryover deduction

$50,000

$110,000


Note: The calculations and tax benefits included in this example are estimates only. Actual benefits may vary. *This example is based on income tax rates that can change yearly. Contact our office for a personal illustration based on the latest rates.

For more information

Email us, complete the personal illustration form, or call us at (909) 621-8143 or (800) 761-9899 so that we can assist you through every step of the process.




Pomona College
Trusts and Estates
550 North College Ave
Alexander Hall 235
Claremont, CA 91711
(909) 621-8143 or (800) 761-9899
Fax: (909) 621-8654
pomonaplan@pomona.edu




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