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Are charitable donations tax deductible?

A charitable donation is a gift of money or goods to a tax-exempt organization that can reduce your taxable income. To claim a deduction for charitable donations on your taxes, you must have donated to an IRS-recognized charity and received nothing in return for your gift. Donated to a friend's GoFundMe? That is typically not tax-deductible.

Are charitable contributions a tax-saving opportunity?

Charitable contributions are potentially a tax-saving opportunity. Not only does the charity benefit, but taxpayers enjoy tax savings by deducting part or all of their contributions on their tax returns.

Can I take a charitable contribution deduction for household items?

You cannot take an income tax charitable contribution deduction for household items unless they are in good used condition or better. The one exception to this is a household item that is not in good used condition or better for which you claim an income tax charitable contribution deduction of more than $500.

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