Info on suggested limits for non-cash charitable deductions?
Question regarding what the 'rule of thumb' limits are on non-cash charitable deductions on Schedule A, before a red flag would would be raised with an audit? I'm not asking the actual legal limit, but more on what is considered 'acceptable' as a % of AGI. For example, for someone with an AGI of $140K, what amount of non-cash charity might possibly trigger an audit? I thought there was a rule of thumb about using a certain % of AGI would be considered within range, but over a certain % might get suspicions raised. Any insight into this?
Thanks