Tax Deduction Non Profit
August 11th, 2008
Question: What is the maximum amount donation for tax deduction to a non-profit organization? Need answers fast, please!?
I’ve heard the for a single person it is $250, but I am still unsure of the matter. Thank you in advance.
i realize that it is limited to my A.G.I. and you are required to have proof for an amount of $250 or more, but is there a key amount for a donation for it to show up on both my state and federal returns?
Answer: There are 30% and 50% organizations. It must be a registered charity. A 30% organization you can donate up to 30% of your income or a 50% organization up to 50%. You cannot do both 30 and 50%. You must be qualified to itemize and it is not a dollar for dollar write off. For state, you are already getting it counted because you use your federal adjusted income as your state income.
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