Solved: Up to what % of charitable donations can I claim?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
gagarci
Level 1

Up to what % of charitable donations can I claim?

I recently gave my church a donation of $15K.  Wondering how much of this I can claim on my taxes if I am doing the standard deduction of $24,800 for filing married.

1 Best answer

Accepted Solutions
Opus 17
Level 15

Up to what % of charitable donations can I claim?

You list the entire amount of the charitable donation. Whether you get any tax benefit from it depends on whether the total of all of your itemized deductions is more than your standard deduction.  For example, if you paid $5000 in state income tax and $5000 in mortgage interest and those were your only other itemized deductions, then the total of your itemized deductions with the charity donation would be $25,000. That would make your itemized deduction $200 larger than the standard deduction.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

3 Replies
DoninGA
Level 15

Up to what % of charitable donations can I claim?

A charitable donation is only entered as an itemized deduction on Schedule A.  You can enter the entire donation on Schedule A.  However -

 

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 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

 

Hal_Al
Level 15

Up to what % of charitable donations can I claim?

For 2020 (Covid law), you are allowed a (up to) $300 "above the line" charitable deduction.  Even people using the standard deduction can claim it. 

Opus 17
Level 15

Up to what % of charitable donations can I claim?

You list the entire amount of the charitable donation. Whether you get any tax benefit from it depends on whether the total of all of your itemized deductions is more than your standard deduction.  For example, if you paid $5000 in state income tax and $5000 in mortgage interest and those were your only other itemized deductions, then the total of your itemized deductions with the charity donation would be $25,000. That would make your itemized deduction $200 larger than the standard deduction.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings