will we be able to deduct a limited charity contribution for tax year 2025 under the new bill? or 2026 tax year? how much?

[rjs · Accepted solution]

There is no change for charitable contributions for 2025. Starting in 2026 you will be able to deduct up to $1,000 of cash charitable contributions ($2,000 if married filing jointly) without itemizing deductions.

Also starting in 2026, the itemized deduction for charitable contributions will be allowed only for contributions in excess of 0.5% of AGI.