Content Overview
- Summary
- How To Determine If An Organization Qualifies As An IRS Charitable Organization
- Limit On Total Amount Of Deductible Charitable Contributions
- If Any Single Charitable Contribution Is $250 Or More
- Charitable Contributions Made By Payroll Deduction
- Contributions Of Time To Charitable Organizations
Charitable Contributions: Tax Considerations
Limit On Total Amount Of Deductible Charitable Contributions
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Your deduction for any given year is limited to a total of 50% of your adjusted gross income for donations of cash.
Limits below 50% also apply to specific types of property and contributions made to certain types of organizations. For example, gifts of appreciated securities are limited to 30% of adjusted gross income.
Any disallowed deduction can be carried over for the next five years.
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