In the past you could deduct charitable donations only if you itemized your personal deductions, rather than taking the standard deduction. But due to the recent increase in the standard deduction, most taxpayers don’t itemize. For 2020, the standard deduction is $12,400 for single filers and $24,800 for married couples filing jointly. For 2021, it’s $12,550 for single filers and $25,100 for married couples filing jointly.
For 2020 and 2021 you don’t need to itemize deductions to claim a $300 charitable deduction. In 2021 married couples filing jointly can deduct up to $600. The limit for 2020 was $300 per return, not per person.
People who do itemize their deductions can get an even bigger benefit from charitable contributions in 2021. Donors who itemize can deduct cash donations of up to 60 percent of their income, through 2025. After that, the maximum deduction will revert to 50 percent of income. But the CARES Act temporarily increased that limit to 100 percent of income, for 2020; the December law extended it for 2021. The 50 percent rule still applies to noncash contributions.
Source: Some Changes That May Affect Next Year’s Tax Return by Ann Carrns. March 15, 2021
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