Melinda is itemizing deductions on her federal income tax return. Her AGI was $295,420 last year, and she contributed $148,160 to charity. If charitable contributions are deductible up to 50% of a taxpayer's AGI, how much can Melinda deduct for charitable contributions?

Question

anonymous · Answer

Im not sure what to do here can someone help me figure it out?

wolf1728 · Answer

You said Melinda contributed $148,160 to charity.
You also said that charitable contributions are deductible up to a maximum of 50% of a person's AGI.  
50% of  295,420 is 147,710 so Melinda can deduct 147,710 of charitable contributions and the remaining $450 (148,160 minus 147,710) would not be deductible.