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H.R. 651: Charitable Giving Tax Deduction Act


The text of the bill below is as of Jan 17, 2019 (Introduced).


I

116th CONGRESS

1st Session

H. R. 651

IN THE HOUSE OF REPRESENTATIVES

January 17, 2019

(for himself and Mr. Cuellar) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow the deduction for charitable contributions as an above-the-line deduction.

1.

Short title

This Act may be cited as the Charitable Giving Tax Deduction Act.

2.

Deduction for charitable contributions allowed in determining adjusted gross income

(a)

In general

Section 62(a) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (7) the following new paragraph:

(8)

Charitable contributions

The deduction allowed under section 170.

.

(b)

Conforming amendment

Section 170(b)(1)(H) of such Code is amended by striking (computed without regard to any net operating loss carryback to the taxable year under section 172). and inserting the following:

determined without regard to—

(i)

section 62(a)(8), and

(ii)

any net operating loss carryback to the taxable year under section 172.

.

(c)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2018.