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You're not taxed on it if you deduct your charitable contributions. (Presuming you're in the US, and don't make so much that you're under Alternative Minimum T
by AnimalMuppet 2y ago
You're not taxed on it if you deduct your charitable contributions. (Presuming you're in the US, and don't make so much that you're under Alternative Minimum Tax, and maybe a few other assumptions...)
- loco5niner 2y agoYes, but only if I itemize. With the standard deduction being $29,200 for me this year, that's a tall hurdle. And at that, the only benefit is any amount over the standard deduction.