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To: conservatism_IS_compassion

I don’t know but I think charitable donations are still deductible in a standard return. I use TaxAct Online and I recall their Q&A has the charitable contributions deduction.

Now, just how do you ‘exploit’ the charitable contributions deduction?


54 posted on 01/07/2018 6:29:17 PM PST by Justa
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To: Justa
Now, just how do you ‘exploit’ the charitable contributions deduction?
Well, it’s funny to able to take the standard deduction and “deduct" your charitable donations. Which not having to declare as income money donated from an IRA effectively allows you to do.

Seeing that that is the law, I have made use of it to minimize my tax liability for the past year and will this year (2017 tax year). And if that provision is unaltered, I’ll do it in the 2018 tax year as well. If it has been rescinded, the tax cut law will be a little less helpful to me personally than otherwise. That’s all. I suppose the option of donating stock to avoid capital gains taxation would still be an option . . .


55 posted on 01/07/2018 7:15:16 PM PST by conservatism_IS_compassion (Presses can be 'associated,' or presses can be independent. Demand independent presses.)
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