Is there a limit on charitable contributions for 2018? If so, what is it?

[SweetieJean]

Do you mean for 2018 returns that are filed in early 2019?

[jackgriffisjr]

Yes.

[SteamTrain · Accepted solution]

1)  there is no limit for Karma points

2)   For tax purposes.

.a)  there is a yearly upper limit, and if you go over, the excess not used in that  year can be carried into the next year.

The upper limit for cash, for cash charitable donations, (to so-called 50% charities, any 501(c)(3) organization)  is now 60% of your AGI for 2018   (for 2017 and earlier years it was 50% of AGI).  (There can be lower upper limits for non-cash "items" donated or donations to fraternal organizations, usually 30% of your AGI)

b)  Lower limits:  As little as you want to give..or nothing. .....But...the thing you may be referring to is that the Standard Deduction is being doubled ( approximately ). Thus it is possible that your charity/church donations will not actually  be used unless they (plus all your other itemized deductions) exceed the new Standard Deduction levels.

So if your itemized Deductions don't exceed the new Standard Deduction, then the Sd Ded is used instead.  Check your 2017 Itemized Deductions to see if they exceed the new Std Deduction.  

(remember, it's not just the charity amounts, it's those PLUS state/local income taxes paid, and real-estate taxes, and mortgage interest....and some other items.)

For 2018

Single  $12,000

Married filing jointly  $24,000

Head of household  $18,000

Married filing separately  $12,000

_______________

So it is certainly possible that for 2018 taxes, your charity donations might not get you an extra tax advantage....but it depends on your personal/family situation.

[jackgriffisjr]

Thank you so much for taking the time to respond.
 Last year (2017) my Total Itemized Deductions were over $55,000.  My AGI was in excess of $122,000.  The medical and tax portion of my Itemized Deductions was about $9,000 and Gifts to Charity was $46,000.  Total for the two was approximately  $55,000.  
Are you saying that Gifts to Charity cannot exceed 50% of my AGI or that TOTAL ITEMIZED DEDUCTIONS cannot exceed 50% of my AGI for a total of $60,000?  Sorry for my lack of understanding on this.  I just want to get it right.
Many thanks for your help.

[SteamTrain]

No...just the charity amount cannot exceed 50% of the AGI for 2017 and earlier, or 60% of AGI for 2018 and beyond.  (or 30% of AGI for certain donation types/situations)

Some people could have have situations where the other itemized deductions exceed their AGI entirely (even with no charity donations), such that they end up with no taxable income.

[SteamTrain]

Note:  Updated the post above for new 2018 limit for cash contributions to charities:

1) If you itemize, you can deduct cash donations of up to 60% of your adjusted gross income (AGI).

2)  Donations made to college athletic departments and booster clubs in exchange for the right to buy tickets are no longer deductible.