Testimonials

FAQ

Tax Organizer

Real Estate

2010 Year-End Strategies Charitable Contributions Calculators Tax Calendar Tax Organizer Tax Topic Brochures Tax Planning Strategies New Tax Laws Other Links Tax Penalties Occupation Brochures Tax Terms Tax Credits Tax Updates Tax Central

Lockbox

Limits on Charitable Deductions

In general, deductions for charitable gifts are limited to 50% of a taxpayer's adjusted gross income. However, depending on the kind of organization and the type of property being given, that limit can dip as low as 20%. And if the individual's income is high enough, the partial benefit of his or her charitable deductions can be lost due to an overall limit the IRS imposes on itemized deductions.

Print-Friendly

Send to Friend

Ask a Question

---