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markp0126
New Member

Charitable donationsnot

I input $15,300.00 of cash charitable donations and my Federal tax due did not decrease? Thanx!

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4 Replies

Charitable donationsnot

A cash contribution can be limited as an itemized deduction that would require a carryover to the next tax year.

Was the amount of the contribution 30% or more than the amount of your Adjusted Gross Income on Line 11 of the Form 1040?

See the IRS Publication 526 Charitable Contributions page 14 for limitations - https://www.irs.gov/pub/irs-pdf/p526.pdf

markp0126
New Member

Charitable donationsnot

Thanx so much!

No, it was not greater than 30% AGI.

Charitable donationsnot

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $12,950 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older

markp0126
New Member

Charitable donationsnot

Yes, I don't think I exceeded the standard deduction for filing married.

Thanx again for your expert help!!

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