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Bill-Davenport
Returning Member

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

 
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7 Replies

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

Huh?  There is no minimum.  There is a 10,000 Max but that is only to deduct state and property taxes.

 

Do you think you will have enough to itemize this year?  Starting in 2018 the Standard Deduction doubled so many people switched to the Standard Deduction.  And there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT".

 

For 2019 the standard deduction amounts are:

Single 12,200 + 1,650 for 65 and over or blind

HOH 18,350 + 1,650for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 1,300 for 65 and over or blind

rjs
Level 15
Level 15

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

I don't know why you think there is a minimum of $10,000 for charitable donations. Charitable donations are an itemized deduction. In order for them to make any difference in your tax, your total itemized deductions, including the donations and any other itemized deductions that you have, must be more than your standard deduction.


For 2018 the standard deduction is $12,000 if you file as single or married filing separately. The standard deduction is higher for other filing status, or if you are 65 or older, or blind. The standard deduction amounts are slightly higher for 2019 because they are adjusted for inflation. VolvoGirl listed the standard deduction amounts for 2019. Your standard deduction could be less than $12,000 if someone can claim you as a dependent. In that case it is not a fixed amount. It depends on your income.

Bill-Davenport
Returning Member

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

Sorry, of course I stated it incorrectly. The tax code changes for 2018 resulted in me no longer being able to deduct charitable contributions. In 2017 I had a few thousand dollars of charitable donations that I was able to deduct. I understand there may have been changes to charitable deductions for 2019. The charitable deduction changes for 2019 have not been changed which would result in being again being able to deduct charitable deductions have they?

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

Did you take the Standard Deduction for 2018?  It's not only the charitable contributions but all your itemized deductions were probably not more than the new Standard Deduction.  

 

FAQ on 2018 changes
https://ttlc.intuit.com/community/tax-reform/help/how-will-tax-reform-affect-my-federal-tax-return/0...

Deductions that have been suspended for 2018
https://ttlc.intuit.com/community/tax-reform/help/which-federal-tax-deductions-have-been-suspended-b...

rjs
Level 15
Level 15

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

There are no changes in the rules for charitable donations for 2019. If you did not have enough itemized deductions to exceed your standard deduction for 2018, it will be the same for 2019. If you have "a few thousand dollars of charitable donations" and no other significant itemized deductions, you will not be able to claim itemized deductions for 2019. As stated earlier, the standard deduction for 2019 is slightly higher than for 2018, making it even less likely that you will be able to claim itemized deductions for 2019.

Bill-Davenport
Returning Member

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

I attempted to do itemized deductions for my 2018 taxes as I had been for years, only to confirm my fear (and denial of my reality) that the changes to the tax code made the Standard Deduction the way I had to go. I feared that any changes to the code again this year, under this administration, were not going to be in my favor.

 

Secondarily, my mortgage interest and health expenses were also not deductible which, of course, was thrilling to all of us lower 99% of the income earners.

 

Thank you for the explanation and for confirming that this year again the Standard Deduction will be my reality.

 

Bill 

Due to the tax changes starting in 2018 my charitable donations were way short of satisfying the minimum of $10,000, as I remember it. Is it any lower this year?

Well if the Standard Deduction is more that's a good thing.  Then you get to deduct more than your mortgage interest, medical, taxes and charity.  And you can only deduct medical that's over 10% of your AGI in the first place.

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