At what point is it worth it to deduct charitable donations from taxes?

1. 80

   glassvisageposted 14 years ago

   At what point is it worth it to deduct charitable donations from taxes?
   
   At what point is it worth it to deduct charitable donations from taxes? How much do you have to donate to make it worth the time to do the paperwork? Is there a formula or chart that says this?

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2. 68

   applecsmithposted 14 years ago

   Deducting charitable donations goes on a Schedule A, along with medical expenses, home mortgage interest, unreimbursed job expenses and a few other things.
   The only time when it becomes worth it to use a Schedule A and itemize, is when this deduction exceeds the normal standard deduction. For single/MFS people (2010) it's 5,700 deduction, from gross income, MFJ it's 11,400, and Head of Household it's 8,400. Your total charitable contributions (along with any other eligible deductions from SCH A) would need to exceed whatever filing status you have, to be of any benefit.

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3. 49

   anitajohnsonposted 14 years ago

   At what point is it worth it to deduct charitable donations from taxes?
   
   
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4. 48

   rachael123posted 14 years ago

   At what point is it worth it to deduct charitable donations from taxes?
   
   
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