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Charitable Contributions

Charitable contributions

The deduction for charitable contributions by raising the limit that can be contributed in any one year. The limit is now 60% of adjusted gross income, up from 50%.
For the 2015 tax year, 82% of taxpayers who itemized claimed a charitable contribution. So, if you can still itemize, you can continue to deduct charitable contributions, but it only reduces your taxes if all your itemized deductions exceed the newly raised standard deduction.
Some taxpayers who have lost the value of some deductions (such as the state and local tax deduction) may make up the difference by contributing more to their favorite charity so they can continue itemizing.
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