Charitable Donation Calculator
Charitable Donation
Calculate the tax savings from charitable donations based on your tax bracket
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Formula
Tax Savings = min(Donation, AGI x 60%) x Tax Bracket Rate
Frequently Asked Questions
How much can I deduct for charitable donations?
Cash donations to qualifying charities are deductible up to 60% of your adjusted gross income, with excess carrying forward 5 years.
Do I need a receipt for charitable donations?
You need written acknowledgment from the charity for donations of $250 or more, and records for all donations you claim.