The Cares Act which was signed into law this year has created a new incentive for charitable giving. Taxpayers can deduct up to $300 in cash contributions even if they don't itemize. This is the limit for both single and joint returns. If you do itemize, the limit on cash contributions to public charities (501c3) has been increased from 60% of adjusted gross income to 100% of adjusted gross income. So this is the year to make that large cash donation. Donor advised fund contributions do not qualify for this.
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