Welcome to the CalVet website, and thank you for your service! You may register to get information tailored to the personal profile you create or simply browse the site anonymously.elcome to the CalVet website, and thank you for your service! You may register to get information tailored to the personal profile you create or simply browse the site anonymously.
You may deduct a maximum of up to 50% of your adjusted gross income (AGI) (Line 36 on IRS Form 1040) for the tax year the donation was given. However, if you give more than 50%, the excess may be carried forward for up to five years.
Itemizing required. You can give thousands of dollars, but if you claim the standard deduction amount on your tax return, your charitable gifts will do you no tax good. You must itemize expenses on Schedule A to deduct charitable donations. The good thing about donations is that, in most cases, there is no limit on how much you can deduct.