CANDERSON27
Returning Member

Standard deduction vs. item

I have $12,522 in itemized deductions which includes $300 in charitable contributions.

 

The program is recommending to use itemized because 12,522 > 12,400, but doesn't it make sense to use standard of 12,400 plus the 300 for charitable?

RayW7
Expert Alumni

Get your taxes done using TurboTax

You can't claim the $300 above-the-line Charitable Deduction in addition to the amount claimed if you itemize.  

 

If you Itemized your Charitable Deductions are included in Schedule A .

 

The Cares $300 Charitable Deduction is only available if take the Standard Deduction.

Taxpayers who take the standard deduction can also now write off up to $300 in charitable cash donations in 2020 regardless of filing status. This increases to $600 in 2021 for married filing jointly. This is a new "above-the-line" deduction for people who claim the standard deduction.

 

 

CANDERSON27
Returning Member

Get your taxes done using TurboTax

No I'm not.  The problem is if I itemize I have 12,522 in total deductions.  If I take the standard deduction I have 12,400 + 300 Charity.  The Std Deduction is the better option, but TTax is recommending Itemized. 

RayW7
Expert Alumni

Get your taxes done using TurboTax

You do not have to itemize, you can take the standard deduction.

 

Just revisit Deductions & Credits and after it offers Itemized Deductions as the preferred choice, just click the box Change my deduction.  Then change to Standard Deduction.