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Tag Archives: Charity

Charitable Tax Deduction Peculiarities

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on March 1, 2022 by Lake Wylie Tax Services StaffMarch 1, 2022

Charitable Giving Deductions changes for 2021 Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021 provisions that allow up to $300 ($600 for married taxpayers filing jointly for 2021) of cash donations as a deduction for non-itemizers.

Charitable contributions can take many forms, and some are unusual or misunderstood. The following includes issues that a taxpayer may encounter related to non-cash contributions.

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Posted in Tax Central | Tagged Charitable Giving, Charity
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