Tax Drill $-$ Limitations on the Charitable Contribution Deduction

Indicate whether the following statements are "True" or "False" regarding the limitations on the charitable contribution deduction for tax purposes.

a$.$If the qualifying contributions for the year total $20$ percent or less of AGI, they are partially deductible.

TrueFalse

b$.$In any case, the maximum charitable contribution deduction may not exceed $60$ percent of AGI for the tax year.

TrueFalse

c$.$If the qualifying contributions are more than $20$ percent of AGI, the deductible amount may be limited to $20$ percent, $30$ percent, $50$ percent, or $60$ percent of AGI, depending on the type of property given and the type of organization to which the donation is made.

TrueFalse

d$.$If a taxpayer's contributions for the year exceed the applicable percentage limitations$,$ the excess contributions may be carried back and deducted during a five$-$year carryover period.