It depends. You must enter the qualified charitable contribution on Schedule A of 1040. If qualified to itemize deduction, you will be able to deduct the full amount of your donation. Otherwise, you can take the $300 charitable deduction. To enter charitable donations -
- Click on Federal Taxes.
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Charitable Donations
- On Donations to Charity in 2020, click on the start or update button
Please check line 10b for the correct amount. Line 10a should show the full amount but 10b should shows the $300, adjustment to income. To preview:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
