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What are my donation limits?


Clients sometimes ask: What are my donation limits?


In 2019, cash/check donations are limited to 60% of your adjusted gross income [AGI]. Non-cash [property] donations are limited to 50% of your AGI. Donations that you make but are prevented from deducting (because you've donated more than 60/50% of your AGI) are rolled over to the next year.


The next question is "how do I value my donations?". The easy answer is "what are other people paying for similar items?". EBay, Amazon, and Kelly Blue Book are good starting points.


Remember that donations must be given to non-profit organizations, which can include churches, schools, hospitals, towns, states, etc. Also, the IRS wants you to have a receipt or confirmation for each donation, even if you’re not including the receipt with your tax return.

© 2020 by Dennis C. Carroll, Esq.