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Donations and contributions to Public Schools are tax deductible and they are treated the same way when you donate to charities.
Hereâs what you need to know about what you can and cannot deduct: 1  Monetary contributions â Cash or other monetary contributions may be tax deductible as long as they are not set aside for use by a specific person. 2  Donations of property, including business inventory â These are also considered a valid tax deduction.