Unrestricted Charitable Contribution of Cash 2025

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Expanded tax benefits help individuals and businesses give to charity during 2021; deductions up to $600 available for cash donations by non-itemizers. If you plan to claim itemized deductions for charitable contributions on your tax return, the deduction limit has reverted back to a maximum of 60% of your AGI.
As the name suggests, restricted funds are gifts or donations that carry specific obligations or instructions relating to the use of the funds. The instruction may be to the extent that the fund can only be exhausted in a certain way or that it must be used on a specific project.
For your 2020, you can deduct up to $300 of donations per tax return if you take the standard deduction. In 2021, you can claim up to $300 for a single filer or up to $600 for married couples filing jointly.
In most cases, the amount of charitable cash contributions taxpayers can deduct on Schedule A as an itemized deduction is limited to a percentage (usually 60 percent) of the taxpayers adjusted gross income (AGI). Qualified contributions are not subject to this limitation.
No matter how generously you gave to charities in 2024, youll only be able to deduct up to 60% of your AGI if you gave in cash to standard public charities. For donations of appreciated assets, the maximum charitable deduction in 2024 is 30% of your AGI.
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(Except that for 2020 you can deduct up to $300 per tax return of qualified cash contributions if you take the Standard Deduction. For 2021, this amount is up to $600 per tax return for those filing married filing jointly and $300 for other filing statuses.) Donations of both cash and property are deductible.
You can deduct these expenses whether you take the standard deduction or itemize: Alimony payments. Business use of your car. Business use of your home.

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