4 Major Tax Changes Every MMRF Donor Needs to Know in 2026

In 2026, charitable giving will undergo one of its most significant overhauls in years. Several new tax laws have now gone into effect that stand to impact nearly all donors—from those who send $10 checks to those who make multi-million-dollar gifts.

At every level, the Multiple Myeloma Research Foundation’s generous donors help us accelerate cures for each and every patient. Their support drives groundbreaking clinical trials and data initiatives, fuels investments in the most promising early-stage companies, and empowers patients and their loved ones with trusted resources and support.

To help our donors understand these changes, the MMRF breaks down the most important things donors need to know in 2026 and beyond.

Note: This article is for educational purposes only. Always consult a tax professional about your individual tax situation and giving strategy.

1. A new charitable write-off for people who take the standard deduction

Today, nearly 90 percent of taxpayers (and estimated 144 million people) opt to take the standard deduction instead of itemizing. Since 2022, this has meant that their charitable gifts have no impact on their income at tax time.

But starting this year, taxpayers who opt for the standard deduction can take advantage of a new charitable tax deduction of up to $1,000 for single filers and up to $2,000 for joint filers.

This new deduction only applies to cash gifts made directly to qualified 501(c)(3) organizations like the MMRF.  Eligible contributions include those made online and by credit card or check. Non-cash gifts (such as donated stocks, securities, or goods) do not qualify, and donations made through donor-advised funds are not eligible.

Be sure to save your MMRF donation receipt for any gifts you make in 2026 so you can properly claim this deduction at tax time next year.

2. Itemizers have to clear a new AGI “floor”

Donors who itemize face a few important limits and rules this year.

Most notably, itemizers now face a new “floor” for deducting charitable gifts. Starting this year, only gifts that exceed .5 percent of a filer’s adjusted gross income (AGI) are deductible. For example, if your AGI is $400,000, only gifts you make above a total of $2,000 can be deducted. In other words, if you donated $20,000 to qualified nonprofits over the course of the year or in one lump sum, you can deduct $18,000 of that amount.

This change may influence how donors approach their giving. Some might opt to make a larger donation every few years to clear this floor. Donors who are at or over the age of 70.5 might instead explore qualified charitable distributions (QCDs) from retirement accounts, since QCDs are not subject to this rule.

3. Higher deduction limits remain for larger gifts

The new tax law made permanent a rule allowing donors to deduct cash donations up to 60 percent of their AGI. Certain non-cash donations are capped at 50 percent of AGI, and donations of appreciated stock are capped at 30 percent.

If you make both types of donations in one year, you must deduct cash gifts first. This may limit how much of your non-cash contributions you can deduct.

4. A lower deduction cap for top earners

In 2026, taxpayers in the highest tax bracket will have all their itemized deductions capped at 35 percent rather than 37 percent. In other words, high-income itemizers will experience fewer tax savings from donating to nonprofits.

If you have any questions about donating to the MMRF this year, we’re here to help. Email us at [email protected].