I file Schedule A and deduct real estate taxes and interest and charitable contributions tto. So I itemize more than the standard deduction. I am donating a large amount of clothing to charity this year. Is there an IRS limit to what they allow me to claim?
You'll need to sign in or create an account to connect with an expert.
There is no specific dollar limit. However, there are several percentage limitations. The most common limitation is that charitable contributions to public charities cannot exceed 50% of your adjusted gross income. As very few people give away more than 50% of their income in a year, it is rarely reached.
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.
CroccoWendy
New Member
Jane H1
New Member
april15comingsoo
Level 2
nelsontrotter
Returning Member
FilAlleva
Level 2