This article summarizes claiming tax relief on donations. (Please note this article is for US donors. For UK tax benefits on donations, please see What is Gift Aid?)
In summary:
- Charitable contributions or donations can help US taxpayers to lower their taxable income via a tax deduction.
- To claim a tax-deductible donation, you must itemize on your taxes.
- Your donation must meet certain guidelines to qualify - for example donating to a qualified organization.
- The amount of charitable donations you can deduct may range from 20% to 60% of your AGI
Other articles:
- Tax Deductible Donations: Rules for Giving to Charity
- IRS
Please note this information should be treated as guidance, rather than financial advice. Please contact an expert or refer to the Related Articles.