Question: I need help breaking this down like it's an email - looking for someone who can dumb it down for me so that I understand.
Hi CPA, I hope you are doing well. If my spouse and I's AGI for 2022 is the same as 2021($150,000). We are considering making a large cash charitable contribution before the end of the year and want to know how much more we would have to contribute for it to benefit us on our tax return. That is, for us to be able to itemize on our tax return for 2022. We are not taking the general sales tax deduction in 2022. 1. Qualified medical and dental expenses - $5,769.00 2. Real estate taxes $3,590.00 3. State income taxes $0.00 4. Qualified mortgage interest $5,053.00 5. Charitable donations to qualified organizations - Cash $15,000; Stock, FMV $3,000 / Cost $2500; Noncash - FMV $1,000 Cost $4,500 Looking forward to your response. Thanks so much! Client(s)
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