Jesse Powell on Twitter: "So, a charitable gift to state in lieu of tax payment is only deductible up to the net value of the donation. Does that mean I could still take a 90% deduction this way since state services provided to me only cost 10% of my tax bill? https://t.co/05ijhAYlwW" / Twitter

So, a charitable gift to state in lieu of tax payment is only deductible up to the net value of the donation. Does that mean I could still take a 90% deduction this way since state services provided to me only cost 10% of my tax bill?

home.treasury.gov

Treasury Issues Final Regulations on Charitable Contributions and State and Local Tax Credits

Washington – The U.S. Department of the Treasury today issued final rules and additional guidance on the federal income tax treatment of payments made under state and local tax credit programs. The...

3:05 AM · Jun 13, 2019Twitter Web App

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