Section 170(b)(1)(A) limits the charitable deduction to 50% of the taxpayer's adjusted gross income. So Batman would be taxable on roughly $72 million, leaving over $200 million of the charitable contribution deduction to be carried over to future years.
» Holy amended tax infographic, Batman! from Don't Mess With Taxes
Ka-pow! Bam! Amend! Taxes pretty much pummeled H&R Block's superhero economics infographic last week. I noticed that the Dark Knight's alter ego Bruce Wayne improperly deducted all his charitable contributions. Janet Novack, Forbes' Washington, D.C., b... [Read More]
Tracked on Jul 17, 2012 6:43:43 AM
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