Charitable Donation Deduction Calculator
Charitable Donation Tax Savings
Calculate tax savings from charitable donations
$
$
$
Formula
Tax Savings = Deductible Donations x Marginal Tax Rate (must itemize)
Frequently Asked Questions
How much can I deduct for charitable donations?
Cash donations to public charities are deductible up to 60% of your AGI. Non-cash property donations are limited to 30% of AGI. Excess can be carried forward for up to 5 years.
Do I need to itemize to deduct charitable donations?
Yes, charitable donations are an itemized deduction. You only benefit if your total itemized deductions exceed the standard deduction ($15,000 single, $30,000 married in 2024).
You may also need
$
Standard vs Itemized Deduction Calculator
Free standard vs itemized deduction comparison. Determine whether you should take the standard deduction or itemize your deductions to save more on taxes.
Finance$
Tax Calculator
Free income tax calculator. Estimate your federal and state income tax for the current year. See your effective tax rate and tax bracket.
Finance$
Medical Expense Deduction Calculator
Free medical expense deduction calculator. Determine how much of your medical expenses exceed the 7.5% AGI threshold and your potential tax savings.
Finance