What Is the Charitable Deduction?

You can deduct donations to qualified charitable organizations if you itemize deductions. Cash donations are generally deductible up to 60% of your AGI. Non-cash donations (like clothing or furniture) are deductible at fair market value. For any donation of $250 or more, you need a written acknowledgment from the charity. Donations to political organizations, individuals, or foreign charities generally don't qualify.