According to IRS Publication 526, there are three contributions that may qualify for the 100% limit.
Qualified Cash Contributions
Generally, the amount an individual can deduct for charitable cash contributions is limited to a percentage of the taxpayer's adjusted gross income.
For tax years 2020 and 2021, qualified contributions were not subject to this limitation. To be considered a qualifying contribution, the contribution must meet these guidelines:
- Must be a cash contribution
- Must be made to a qualifying organization
- Must have been made during the 2020 or 2021 calendar year.
If you have a qualifying contribution as described above, the itemized deduction individuals can deduct is up to 100% of their AGI.
For 2022, qualified contributions are not limited based on a percentage of adjusted gross income. However, they may be limited if they exceed the amount on Form 1040 line 11. Refer to Publication 526 for details
Qualified Conservation contributions of farmers and ranchers
You are a qualified farmer or rancher if more than 50% of your gross income for the year is from farming. The deduction for qualified ranchers or farmers making a qualified conservation contribution is limited to 100% of their AGI minus any deductions for all other charitable contributions. "However, if the donated property is used in agriculture or livestock production (or is available for such production), the contribution must be subject to a restriction that the property remain available for such production. If not, the limit is 50%. "
Qualified contributions for relief efforts for 2018 and 2019 disasters
Qualified contributions made for relief efforts in a qualified disaster area are subject to the 100% limitation.
A qualified disaster is a major disaster that was declared by the president before February 19, 2020 that occurred in 2018 and before December 21, 2019 (excluding California wildfires in Jan 2018 which had special relief).
According to the IRS, a qualified contribution must meet the following criteria:
- It is a charitable contribution paid in cash or by check before February 19, 2020.
- It is paid to a qualified organization
- It is payable for relief efforts in a qualified disaster area
- The taxpayer obtains contemporaneous written acknowledgement (within the meaning of section 170(f)(8)) from the organization that such contribution was used for relief efforts.
- The taxpayer elected to have qualified disaster area tax relief apply to such contribution