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Deductions & credits
It depends. What it means that most charitable donation is limited to a person's Adjusted Gross income for the year, usually 60% This year because of COVID 19, the IRS has extended the AGI provision to 100% of the Adjusted Gross Income which is a good thing for Taxpayers. This screen is an information screen attesting to this fact.
Please read this IRS link for further details and read the section as it relates to Qualifying Charitable Organizations.
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March 7, 2021
12:29 PM