Charitable Donations | Contributions

Charitable donations and contributions of money or property that you make to, or for the use of, a qualified organization may be deducted it you itemize deductions on Form 1040 Schedule A.  The donations and contributions must be made to a qualified organization and not given for use by a specific person.

You are allowed a deduction for contributing money, art, cars, or other property to a charitable organization.

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Charitable donations and contributions deductions are generally limited to 50% of your adjusted gross income, but in some cases 20% and 30% limits may apply. If you receive a benefit from making a donation to a qualified organization, you can deduct only the amount that is more than the value of the benefit  received.