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Is the non-profit found on this list or through the link it contains?
NON-PROFIT
If the non-profit qualifies then you could enter the expenses for fostering the dog as a charity donation. You cannot claim anything for your time or dog-training expertise, but you could enter expenses for the care and feeding of the dog, and perhaps miscellaneous expenses such as collars, leashes, etc. that you purchased, or any vet bills.
Charity donations are an itemized deduction on Schedule A. Unless you have enough other itemized deductions like mortgage interest, property tax, medical expenses, etc. to exceed your standard deduction, the charity donation will have no effect on your tax due or refund.
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the tax laws that have been in effect since 2018, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
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