Cost For Donations 2024. The new rules can create a tax cost of making large donations after 2023, as shown in the scenarios above. If you aren’t taking the standard deduction, you will likely qualify for tax breaks for charitable donations and strategies that maximize them.
In that case, you’d claim charitable donations on schedule a (form 1040). The tax deduction you receive for donations to charities is based on the fair market values of the items donated.