Charitable Gifts: How Much of a Deduction Can I Claim?

A cash contribution made for the use of a public charity is deductible up to 30% of the donor's adjusted gross income for the tax year; a contribution of property made for the use of a public charity is deductible up to 20% of the donor's adjusted gross income for the tax year. Any amount that cannot be deducted in the current tax year is carried over in successive years (up to five years).

Categories: 
Related Posts
  • The world may be full of problems, but Americans are donating billions to charity to help. Read More
  • Our Company Wants To Make a Donation to Charity, What Kind of Deduction Can We Claim? Read More
  • Can Volunteers Take a Charitable Deduction for Donating Their Time? Read More
/