topic 2023 Itemized Charitable Contribution in Deductions & credits

2023 Itemized Charitable Contribution

D4D TACO — Wed, 11 Feb 2026 03:49:41 GMT

We (Married Filing Jointly) made $70000 charity donations throughout 2023 using credit card. After itemized all deductions (property taxes, investment and interest income, mortgage interest) we owe IRS $20000 in income tax. Do we get ($70000-$20000) = $50000 back from IRS?

Re: 2023 Itemized Charitable Contribution

SteamTrain — Sun, 11 Feb 2024 12:24:29 GMT

Nope...the charity donations are an income "Deduction"....not a Credit.

They can only be used to reduce your taxable income.

It might be possible for some of the charitable $$ to carry-over to 2024 taxes, but you have to enter those donations into the software to see exactly how much might be carried over...i.e you have to enter them this year.

Whether any carries over depends on what types of charities you donated to...there are those organizations that have a 60% of AGI, or 30% of AGI, or 20% of AGI limit....and only those $$ that exceed that amount donated in 2023 will carry over to "Possibly" be used in 2024 taxes.

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So you enter your donations, and who you made them to,,,and see what happens in your tax files. AND.,,.keep exacting records of exactly who/what you contributed to each organization.

Re: 2023 Itemized Charitable Contribution

D4D TACO — Sun, 11 Feb 2024 21:05:38 GMT

Thank you very much for your response. Much Appreciated.