Donations

Help protect Colorado from tax and spend politicians by donating to TABOR to help fund our battles to protect the taxpayer.

  • The TABOR Committee is a political issue committee that addresses legislative and ballot measures affecting TABOR.


  • The TABOR FOUNDATION is a 501(c)3 educational and research entity that documents and distributes factual information explaining TABOR’s crucial benefits.  Donations to the TABOR Foundation ARE tax deductible.
         

Charitable Contribution Deductions

You can only deduct contributions to qualified charities. Qualified charities include organizations created for religious, charitable, educational, scientific or literary purposes. Only people who itemize their deductions can deduct their donations to 501(c)(3) organizations. Though anyone can elect to itemize, it’s not always in your best interests. You should itemize only if your itemized deductions, including charitable donations, exceeds the amount of your standard deduction. When you itemize, you have to report the donations on Schedule A. After totaling your itemized deductions, you have to report the total on your Form 1040 tax return.

Limits on Deductions

Each year, your deduction for your charitable contributions cannot exceed 50 percent of your adjusted gross income. In addition, if you’re donating appreciated property, such as stocks or land, you’re limited to a 30 percent of your AGI for donations to most organizations. Donations to certain 501(c)(3) organizations, such as veterans’ organizations, nonprofit cemeteries or fraternal societies, are subject to a 30 percent limit. These are known as 30 percent limit organizations. If you contribute appreciated property to a 30 percent organization, you’re limited to 20 percent of your AGI. For example, if you donate appreciated stock to a nonprofit cemetery, your deduction couldn’t exceed 20 percent of your AGI. If your donation exceeds the limits, you can carry over the extra up to five years in the future.