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Charitable Deductions Declined in 2008, IRS Report Says

March 2, 2010, 11:00 am

Tax deductions claimed by Americans for charitable contributions declined by 7.2 percent from 2007 to 2008, according to “preliminary data” from the Internal Revenue Service.

The tax agency will make a final report months from now.

The interim figures show a decline in deductions from $174.5-billion in 2007 to $161.9-billion in 2008.

The IRS said the number of tax returns filed with the deduction for charitable contributions declined by 4.7 percent, from 41.1-miliion in 2007 to 39.2-million in 2008.

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