What is the limit on how much I can deduct for charitable donations?
Generally the deduction for donations cannot exceed 50% of your adjusted gross income (AGI). Donations of capital gain property (property that would have resulted in long-term capital gain if sold at fair market value) to 50% limit organizations cannot exceed 30% of AGI. Donations of capital gain property to less than 50% limit organizations cannot exceed 20% of AGI. The organization should be able to tell you if they are a 50% limit organization.