Is there a max number of columns I can pass into the API to have the report filter on?

With basic filters, I read that the maximum number of values you can pass into the report is 500 values.  FIrst off, is this true?  If not, is there a max number of values you can pass into a basic filter?

Additionally. if I want to do advanced filters, is there a maximum number of columns I can pass into the filters?  

Thanks,

Stizz001