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TurboTax Tax Guide to Deducting Charitable Contributions

TurboTax Staff

As a society, we give nearly 2% of our personal income to charities and nonprofit organizations. However, there is a common misconception that all nonprofits are qualifying charitable organizations - but that isn't always the case. Not all nonprofit organizations qualify as beneficiaries for tax-lowering gifts, nor do all gifts to eligible charities quaxlify. Knowing what you can and can't claim as charitable contributions helps you maximize the potential tax savings that the charitable tax deduction offers.

Keep reading for more charitable contribution tax tips