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Tax Deduction for Charitable Donations Extended for Non-Itemizers (2023-2024).

This bill reinstates and modifies a tax deduction allowing individuals who take the standard deduction to claim a limited deduction for charitable contributions. For the 2023 and 2024 tax years, taxpayers can reduce their taxable income by donating to charity, even if they do not itemize. The maximum deduction allowed under this rule is capped at one-third of the standard deduction amount.
Key points
Allows taxpayers using the standard deduction to claim a deduction for charitable contributions.
This provision is temporary, applying only to the 2023 and 2024 tax years.
The maximum amount deductible is limited to one-third of the standard deduction amount for the individual.
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Additional Information
Charitable Act
Print number: S 566
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2023-02-28