How Much Can Be Claimed by the CEI Tax Credit?

The tax credit is for 50% of the dollar amount donated. If a person gives $1000, he or she can claim a $500 tax credit, provided he or she has this much tax liability. If a person’s tax liability does not allow the full amount of the tax credit to be claimed in that tax year, the tax credit can be carried over for as many as four years until the full benefit of the tax credit is realized.

 

 

Posted: November 22, 2013

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