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at the end of this publication, go to the IRS In-teractive Tax Assistant page at IRS.gov/ Help/ITA where you can find topics by using the search feature or viewing the categories listed. Getting tax forms, instructions, and pub-lications. Go to IRS.gov/Forms to download current and prior-year forms, instructions, and publications.
Beginning in 2023, you can elect to make a one-time distribution up to $50,000 from an individual retirement account to charities through a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity each of which is funded only by qualified charitable distributions.
Publication 526, also known as Charitable Contributions, is a valuable guide from the Internal Revenue Service (IRS) that explains how individuals can claim deductions for their charitable donations on their federal income tax returns.
Per Pub. 526, the IRS considers a qualified vehicle “a car or any motor vehicle manufactured mainly for use on public streets, roads, and highways; a boat; or an airplane.” If the qualified vehicle you are donating has a claimed FMV of more than $500, you can deduct the smaller of 1) the gross proceeds from the sale of the vehicle by the ...
See IRS Publication 526, Charitable Contributions, for rules on what constitutes a qualified organization. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.
at the end of this publication, go to the IRS In-teractive Tax Assistant page at IRS.gov/ Help/ITA where you can find topics by using the search feature or viewing the categories listed. Getting tax forms, instructions, and pub-lications. Go to IRS.gov/Forms to download current and prior-year forms, instructions, and publications.
For 2016, you may have to reduce the total amount of certain itemized deductions, including charitable contri butions, if your adjusted gross income is more than: $155,650 if married filing separately, $259,400 if single, $285,350 if head of household, or. $311,300 if married filing jointly or qualify ing widow(er).
