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Is there a limit to how much charity can be deducted on my tax return?

 
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Category : > Income Tax Filing Across The USA
Posted On : Fri Nov 26th,2010

 
Is there a limit to how much charity can be deducted on my tax return?
 

 Is there a limit to how much charity can be deducted on my tax return?

Generally, contributions to public charities cannot exceed 50% of a taxpayer's income.

Example: A taxpayer made $50,000 in a year and contributed $500 to a hospital. The entire amount is deductible because the $500 is well below the 50% of the taxpayer's income.

  


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