Is T2T and DAV contributions deductible?

[jeanross200-yaho]

I gave $220 to T2T and 19.99 to DAV IN 2023. They told me this was deductible!!

[xmasbaby0]

NON-PROFIT

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-qualified-charitable-organiz...

If you gave donations to charity the donations are deductible IF you have enough itemized deductions to exceed your standard deduction.

 If you do not have enough deductions to itemize, then your donations will not affect your refund or tax due.  You will just receive the standard deduction.

A charitable donation almost never changes your tax due or refund all by itself.  First, your donation does not count "dollar for dollar"--it is calculated by a percentage based on your tax bracket.  You need a LOT of other itemized deductions like mortgage interest or property taxes, medical expense, etc. to itemize and exceed your standard deduction.

Federal>Deductions and Credits>Charitable Donations>Donations to Charity

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts)   The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.  Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850  (65 or older/legally blind + $1850)

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

[VolvoGirl]

Don’t know what DAV is but charity contributions are only deductible as an Itemized Deductions on Schedule A.  Then all your deductions have to be more than the Standard Deduction to get any benefit.  And since the Standard Deduction increased most people take the Standard Deduction now.  You might be able to take your itemized deductions on a state return so you should still enter them.

For 2023 the standard deduction amounts are:
Single 13,850 + 1,850 or 65 and over or blind
HOH 20,800 + 1,850 for 65 and over or blind
Joint 27,700+ 1,500 for each 65 and over or blind
Married filing Separate 13,850 + 1,500 for 65 and over or blind

[DoninGA]

@VolvoGirl T2T - Tunnel to Towers Foundation   DAV - Disabled American Veterans 

[VolvoGirl]

I know T2T.  I did a QCD to them.