answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: What is the maximum deduction for a charitable bequest of the residuary estate is?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is The maximum deduction for a charitable bequest of the residuary estate is reduced by the gross estate is reduced by what percentage?

The maximum deduction for a charitable bequest of the residuary estate is reduced by taxes and administrative expenses.


What is the maximum tax deduction for a donation to charity?

The maximum tax deduction for donation given to a charitable organization is $25,000 but this number changes all the time.


Do you still get a charitable deduction for junk car donation?

You can still get a tax deduction for the donation of your old car. You will receive a deduction that equals the actual fair market value of the vehicle, and you cannot automatically receive the maximum allowance.


What is the maximum amount one can use as a charital deduction?

The maximum amount that you may deduct for charitable contributions is 50% of your yearly income. If you've given more than 50% of your income the excess can be deducted on the following years taxes.


What is 'maximum deduction for charitable contribution'?

Charitable contributions are deductible only on Schedule A (Itemized Deductions) in the Gifts to Charity Section. You must document and keep with your records any cash or property contribution of at least $250. File Form 8283(Noncash Charitable Contributions) if your total deduction for noncash contributions is more than $500. Fill out Form 8283 Section B if noncash contributions exceed $5,000.For more information, go to www.irs.gov/taxtopics for Topic 506 (Contributions). Also, go to www.irs.gov/formspubs for Publication 526 (Charitable Contributions).


What is maximum salary for esi deduction?

Rs 10000/-


What is the maximum tax deduction for an auto donation to charity?

The maximum tax deduction for an auto donation to any charity is the full value of the vehicle donated. You can not write off more than the vehicle's full value.


What is the maximum amount of deduction to a senior citizen under section 80d for assessment year 2007-2008?

The current deduction (In 2013) is 20,000 rupees


What is the maximum amount of charitable contributions that can be claim on your income tax form?

Charitable contributions are deductible only on Schedule A (Itemized Deductions) in the Gifts to Charity Section. You must document and keep with your records any cash or property contribution of at least $250. File Form 8283 (Noncash Charitable Contributions) if your total deduction for noncash contributions is more than $500. Fill out Form 8283 Section B if noncash contributions exceed $5,000. For more information, go to www.irs.gov/taxtopics for Topic 506 (Contributions). Also, go to www.irs.gov/formspubs for Publication 526 (Charitable Contributions).


What is the maximum deduction percentage allowed for a Colorado Notice of Attachment of Earnings?

Up to 50% Net disposable


What is the maximum deduction from an employees wages for child support and debt garnishment?

50% to 65% of net income


What is the maxiumum deduction for junk car donation?

There isn't a set in stone maximum deduction. However since 2005 the IRS has adopted tougher rules limiting the deduction to the actual sales price of the car if it is over 500$. The charity has to notify you of this within 30 days, but you have no right to know what the deduction will be before you donate the vehicle.