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Can charitable donations still be itemized post tax reform?
Is there any caps (or income limitations) if charitable donations are still allowed to be itemized?
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June 4, 2019
10:07 PM
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Deductions & credits
You will still be able to enter charitable donations with the tax reform laws. There is not a "cap" on donations you can deduct. But getting a deduction for them will be harder with the high standard deduction. Donations are an itemized deduction, and it will be much harder to exceed the new standard deduction in order to itemize.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 4, 2019
10:07 PM
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Deductions & credits
The tax bill also increases the charitable contribution deduction limit to 60 percent of one's adjusted gross income, up from the current 50 percent, but that isn't likely to affect many people
June 4, 2019
10:07 PM
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Deductions & credits
Remember, the new laws mostly affect your 2018 tax return that you will be preparing in 2019.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 4, 2019
10:07 PM