Question

I am trying to donate to a private school tuition organization, but it gives me back 50% instead of 100% of the tax credit. I am filing married separately. Why?

Forum|Forum|6 years ago
March 2, 2020
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TurboTax Deluxe Online

Your donation is 100% deductible, up to 50% of your modified adjusted gross income (MAGI), but there is a difference between a deduction and a tax credit. A deduction reduces your taxable income, dollar for dollar, but it does not reduce your tax the same way.

For additional information check the IRS website.

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