Hal_Al
Level 15

Deductions & credits

"Therefore only 50% of your charitable donations are deductible from your taxable income."

 

No exactly.

 

The first 50% limitation provides that aggregate deductible contributions (including those subject to the separate 20% or 30% limitations) cannot exceed 50% of AGI.

Reference: https://www.thetaxadviser.com/issues/2013/mar/casestudy-mar2013.html