What is the treatment of capital losses and charitable contribution limitations, under the aggregate approach?
Under Aggregate Approach Capital losses make it possible for investors at least part of their losses on their tax return by offsetting capital gain and other sources of income.
Under Aggregate Aporoach Charitable Contribution the charitable contribution can be deducted as itemized deduction which is limited to 60%.Qualified contributors are not subject to this limitation.individual can deduct charitable contribution @100% and corporation upto 25%
Contribution made should be a cash contribution,made to a qualified organization and made during the current year.
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