Below are a few key changes along with reminders of important components that will remain the same.

Changes for Individual Taxpayers:

• Starting in 2026, a new "universal charitable deduction" is available, even if you take the standard deduction.
• You can deduct up to $2,000 (for married filing jointly) or $1,000 (for all other filers) in cash gifts to public charities.
• Starting in 2026, there is a new charitable deduction floor if you itemize your deductions.
• You can deduct charitable gifts that exceed 0.5% of your adjusted gross income.
• Starting this year through 2029, the state and local tax (SALT) deduction has increased.
• You can now deduct up to $40,000. This increase is phased out beginning at $500,000 modified adjusted gross income.
• Starting in 2026, total itemized deductions are capped for those in the 37% tax bracket.
• Because of this, each dollar of itemized deductions, including charitable deductions, will only generate about 35 cents of tax benefit, rather than the full 37 cents.

What stays the same?

• Qualified Charitable Distributions from IRAs are available for donors 70 ½ years old or older.
• Donors who itemize may deduct charitable contributions up to 60% of their adjusted gross income.

Please Note:
To maximize the tax benefits of a charitable gift under these changes, timing of your gift may be important. Please consult with your tax advisor.

St. Louis Children's Hospital Foundation does not provide financial, legal, or tax advice. Please consult with your attorney or tax advisor to learn more about tax laws and their impact on your charitable giving.