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Concept

The charitable deduction

The U.S. income-tax deduction for gifts to charities.

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Under the U.S. tax code a taxpayer who itemizes may deduct gifts to charities, within limits set by income. U.S. Congress created it in 1917, as Rob Reich tells it (Rob Reich). The Treasury counts the revenue it costs as a tax expenditure, in three lines for education, health and everything else.

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Timeline 1 date
  1. 1917 U.S. Congress adopted The charitable deduction According to Rob Reich
Proof 2 sources
  1. Is Philanthropy Undemocratic?, Worth, 4 Nov 2019. Scholarship & press
    The tax deductions for giving only came into being in 1917, so Carnegie and Rockefeller gave money away without any charitable contribution deduction whatsoever.
  2. Gilded Giving 2022, Institute for Policy Studies, 2022. Scholarship & press
    households making over $1 million accounted for just 10 percent of charitable deductions in 1993, but accounted for 40 percent in 2019.
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