The IRS is temporarily suspending limits on charitable cash contributions.

In general, the amount of charitable cash contributions taxpayers can deduct as an itemized deduction on Schedule A is limited to a percentage—usually 60%—of the taxpayer’s adjusted gross income.

Qualified contributions are not subject to this limitation.

Taxpayers may deduct qualified contributions of up to 100% of their adjusted gross income.

A corporation may deduct qualified contributions of up to 25% of its taxable income.

Contributions exceeding that amount can carry over to the next tax year.

To qualify, the contribution must be:

  • A cash contribution
  • Made to a qualifying organization
  • Made during the 2020 calendar year

Contributions of non-cash property do not qualify for this relief.

Taxpayers may still claim non-cash contributions as a deduction, subject to the normal limits.

The IRS provides information on tax help for taxpayers, businesses, tax-exempt organizations, health plans, and others affected by the coronavirus.