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.
And heâs got some deductions. He made a $2,000 donation to charity and a $5,000 donation to state taxesâor not a donation; he paid $5,000 in state taxes. So his total deductions right over here, and we would call these his itemized deductions because he is literally putting out all of the items that heâs deducting.