$300/$600 Charity ded for 2022?

Is the $300/$600 charitable deduction for those taking the standard deduction still available in 2022?

It was supposed to be a one-off for 2021, but has it been extended in the new tax bill voted by Senate?

Thanks

Hi, rnam. I haven’t seen any mention the charitable tax deduction in any of the reports. My guess is that the tax provisions focused mostly on the minimum corporate tax and the attempt to tax carried interest. The latter was pulled out after objections by Senator Kyrsten Sinema. The intent was to generate tax revenue to offset the cost of the healthcare and climate change provisions, not to address individual tax payer reform.

Fuskie
Whose assumption for 2022 is that the only way he can get a charitable deduction is to exceed the standard deduction and itemize…


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Fuskie
Whose assumption for 2022 is that the only way he can get a charitable deduction is to exceed the standard deduction and itemize…

If your are subject to a Required Minimum Distribution, a Qualified Charitable Distribution provides the same benefit as a charitable deduction without needing to itemize.

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If your are subject to a Required Minimum Distribution, a Qualified Charitable Distribution provides the same benefit as a charitable deduction without needing to itemize.

Close, but not exactly. QCDs used to be tied to the age for RMDs. Then, the SECURE Act changed the age for RMDs, but it did not change the age for QCDs. Therefore, QCDs can still be done beginning at age 70 1/2 - you don’t need to wait until age 72 when RMDs kick in. So there are some people who aren’t subject to RMDs who can still make QCDs to get the tax advantage without having to itemize.

AJ

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