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I received extra income. I donated half. What amount do I pay taxes on?


I sold a life insurance policy . I received money. I donated half to a charity. What amount do I pay taxes on?

If you itemize, you'll deduct your donation, so will just pay taxes on the half you kept.

If you don't itemize, then you can't deduct the donation so will pay tax on the whole amount.
Depends on your tax bracket. Speak to a CPA to get a clear definition of the income you needed to pay before your donation.
dont pay taxes its stupid
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