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Deductions & credits
There are limits to the charitable donations you can deduct in a given year, based on a percentage of your adjusted gross income (AGI). Most public charities are 60% of your AGI for cash and 50% for other types of donations but some types of charities are limited to 30% or even 20%. If you exceed the amount, you have up to five years to use it and TurboTax will carry over the remainder to the following return.
This IRS web page shows different types of charities and their rate. There is also a Search for Charities link where you can search for a particular charity.
IRS Types of Charities
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‎January 7, 2022
6:13 AM