3145481
I input $15,300.00 of cash charitable donations and my Federal tax due did not decrease? Thanx!
You'll need to sign in or create an account to connect with an expert.
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
Thanx so much!
No, it was not greater than 30% AGI.
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
Yes, I don't think I exceeded the standard deduction for filing married.
Thanx again for your expert help!!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jyeh74
Level 3
Raph
Community Manager
in Events
les_matheson
Level 2
fldcdeb
Level 1
wresnick
New Member