Question

Charitable Deductions

Forum|Forum|2 years ago
October 25, 2023
1 reply
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What is the amount of Charitable donations required to be above the standard deduction?

Ask the Experts - Extension - Sept 2023

A

Anonymous

Hi,

Here is an article that shows the standard deductions for 2022 and 2023:

https://www.nerdwallet.com/article/taxes/standard-deduction#:~:text=The%202023%20standard%20deduction%20is,a%20higher%20standard%20deduction%20amount.

You need charitable contributions, and things such as mortgage interest, real estate taxes, large medical expenses, property taxes on your vehicle registration, sales tax paid on purchase to exceed those thresholds in order to get the itemized deduction, in excess of the standard deduction.

Thank you,

John

CPA