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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
imageDonors 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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