| Starting in 2026, taxpayers who elect to take the standard deduction on their 1040 Tax Return will be able to claim a deduction for charitable cash contributions. The limits of this deduction are $1,000 if you are a single filer (or married filing separately), or $2,000 if you are married filing jointly. Until now, only taxpayers who itemized could write off charitable contributions.
This deduction applies only to cash contributions made to qualified public charities, such as most 501(c)(3) charitable, educational, or religious organizations. It is important to note that the deduction is capped at these amounts, meaning that you cannot deduct any amount you contributed that exceeds these limits.
This change provides a welcome opportunity for taxpayers who do not itemize to receive a modest tax benefit for their charitable giving. To take advantage of the deduction, be sure to maintain proper receipts or bank records documenting your cash contributions. |
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