2021 Update on the CARES Act

Posted on June 10, 2021

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Charitable Deduction Limits Modified for Individuals
For 2021, the CARES Act will continue to allow donors to deduct cash gifts to public charities up to 100% of their adjusted gross income (AGI), increased from 60 percent.

While contributions to a Donor Advised Fund (DAF) or Supporting Organization (SO) do not qualify for the 100% deduction, a donor could make a cash contribution of 60 percent of their AGI to a DAF or SO and also make a 40 percent of AGI contribution to other charities.

If you have questions or issues you’d like to discuss, please contact Linda Sweeney, Senior Director of Philanthropic Planning, at 415.464.2507 or lsweeney@marincf.org. As always, we also encourage you to consult your private professional advisors to explore the particular aspects of your unique circumstances.