Profitable stock is "one of the best targets for charitable giving" if the organization can accept it, said certified financial planner Michael Lofley with HBKS Wealth Advisors in Stuart, Florida. When filing taxes, you claim the bigger of the standard deduction or your total itemized deductions. Since 2018, there's been a higher standard deduction, and only about 10% of taxpayers itemized tax breaks on 2021 returns, according to the most recent IRS filing data. For 2024, the standard deduction is $14,600 for single taxpayers and $29,200 for married couples filing together. Your total itemized deductions must exceed those thresholds to claim the charitable deduction.

---

Persons: Michael Lofley, there's, Mitchell Kraus, Itemizers Organizations: Medianews, Getty, GivingTuesday Data, HBKS, Capital Intelligence Associates Locations: Stuart , Florida, Santa Monica , California