ADOR Announces 2018 Credit for Contributions Amounts

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The Arizona Department of Revenue has confirmed the tax year 2018 annual inflation adjustments for credits for contributions to certified charities or school tuition organizations. The tax year 2018 credit for contributions are used on tax returns filed in 2019.

 

Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations

 

Arizona provides two separate nonrefundable tax credits for individuals who make contributions to charitable organizations: Qualifying Charitable Organizations (QCO) and Qualifying Foster Care Charitable Organizations (QFCO). Individuals making cash donations to these charities may claim donations as tax credits up to the allowable amount on their Arizona Personal Income Tax returns.

 

Credit for Contributions to Qualifying Charitable Organizations (Arizona Form 321)

 

The allowable current year’s credit for contributions to QCOs remains the same as the prior tax year.

For 2018, the maximum current year’s credit is:

 

  • $400 for single and head of household taxpayers
  • $800 for married taxpayers filing a joint return

 

Credit for Contributions to Qualifying Foster Care Charitable Organizations (Arizona Form 352)

 

The allowable current year’s credit for contributions to QFCOs remains the same as the prior tax year.

For 2018, the maximum current year’s credit is:

 

  • $500 for single and head of household taxpayers
  • $1,000 for married taxpayers filing a joint return

 

For a list of certified qualifying charities and more information on QCO and QFCO tax credits, see https://azdor.gov/tax-credits/contributions-qcos-and-qfcos.  
 

Certified School Tuition Organizations

 

Arizona provides two separate nonrefundable tax credits to individuals for contributions made to a Certified School Tuition Organization that provides scholarships for students enrolled in Arizona private schools.  Credits are available for donations made by individual taxpayers and for donations made by corporate taxpayers. 

 

Credit for Contributions to Private School Tuition Organizations (Arizona Form 323)

The allowable current year’s credit for contributions to private school tuition organizations is adjusted for inflation.

For 2018, the new maximum current year’s credit is:

 

  • $555 for single and head of household taxpayers
  • $1,110 for married taxpayers filing a joint return

 

Credit for Contributions to Certified School Tuition Organization (Arizona Form 348)

The allowable current year’s credit for contributions to a certified school tuition organization is adjusted for inflation.
For 2018, the new maximum current year’s credit is:

 

  • $552 for single and head of household taxpayers
  • $1,103 for married taxpayers filing a joint return

 

For a list of School Tuition Organizations and more information, see https://azdor.gov/tax-credits/credits-contributions-certified-school-tuition-organizations.

Remember you can only claim a tax credit for donations made to certified charities and school tuition organization.

 

 

Monday, Aug. 27, 2018