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September 28, 2022
Question

Non-Cash Charitable Donations

  • September 28, 2022
  • 1 reply
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Donated clothing to the Big Brother Big Sister Foundation (BBBS Foundation), a tax-exempt registered organization. What amount of donation is tax deductible in 2022? My income this year will be in the lowest tax bracket, and if donations affect my tax, would it be good idea to donate more?

    1 reply

    September 28, 2022

    You can only deduct charitable donations if you itemize. Since you are in the lowest tax bracket the standard deduction would no doubt be better for you than itemizing. Therefore your donations will not be deductible.