The One Big Beautiful Bill Act, enacted on July 4, 2025 as Public Law 119-21, introduced a wide range of changes that will impact tax returns for the 2025 tax year and beyond.
Starting in tax year 2026, to claim any charitable donations the taxpayer's total contributions must exceed 0.5% of their adjusted gross income (AGI).
The OBBB did not change the percentage limitations on charitable deductions:
- 60% of AGI for cash contributions to qualified public charities;
- 30% of AGI for non-cash contributions or gifts to certain private foundations.
Contributions exceeding these limits can be carried forward for up to 5 years.
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