A decrease in a taxpayer's AGI could decrease the amount of charitable contribution that can be claimed.

Question

Quizplus · Accepted Answer

Charitable contributions are deductible only if the taxpayer itemizes deductions. Itemizing deductions includes subtracting certain expenses and amounts paid, such as charitable contributions, from the taxpayer's AGI. If the taxpayer's AGI decreases, the amount of charitable contributions that can be deducted may also decrease, as the deduction is limited to a percentage of the taxpayer's AGI.

A Decrease in a Taxpayer's AGI Could Decrease the Amount