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Deductions & credits
If 80% of your deductions are donations to charity, it is possible that your contributions are being limited. Depending on the type of donation and type of organization you are donating to, donation limitations can be as low as 20% of your AGI. This means the amount you enter for the donation, may not be the amount that is being counted towards your itemized deductions. Therefore, your itemized deductions are likely to be less than what you are entering.
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‎February 15, 2022
5:40 AM
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