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What's the charitable deduction? An economist explains

  • Written by Patrick Rooney, Executive Associate Dean for Academic Programs, Glenn Family Chair, and Professor of Economics and Philanthropic Studies, IUPUI
What's the charitable deduction? An economist explainsDonors who itemize their tax returns can get a discount.porcorex/ E+ via Getty Images

The charitable deduction is a dollar-for-dollar reduction in taxable income that lowers what someone owes the Internal Revenue Service. Only donations to tax-exempt charities count.

This giving incentive is available only for the 10% of American taxpayers who...

Read more: What's the charitable deduction? An economist explains

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