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50% Limit The 50% limit applies to the total of all charitaÂ­ble contributions you make during the year. This means that your deduction for charitable contriÂ­butions cannot be more than 50% of your adjusÂ­ted gross income for the year.
âIf your return doesnât fit the IRSâs profile, the computer kicks it out, and a human being looks at it.â The average charitable contribution is $3,790 for people with adjusted gross incomes of $100,000 to $200,000 who claimed charitable donations, according to the most recent IRS statistics.. This is a gimme for the taxman, so check your numbers. Then check them again. It doesnât matter if you underpay your taxes because you added the numbers wrong, any underpayment will be due, with interest â currently 4 percent compounded daily, though it's set to decrease to 3 percent for tax year 2011.