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Tax law changes
Hi,
You asked: are charitable donations deducted dollar for dollar off adjusted gross income if you itemize?
As with many tax-related items, the answer is, it's complicated. There are limitations on what you can deduct based upon the type of property (cash, art, etc.) you are donating and some other factors. This TurboTax article gives you a great place to get started at understanding the rules. If you are looking for a deeper dive, here is the relevant IRS publication. If you want to post again with a more detailed question, we can help more!
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‎September 28, 2022
11:12 AM