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Deductions & credits
For 2020 only, under the CARES (Covid) act, you make deduct up to $300, even if you do not itemize deductions. However, the $300 is applicable to cash donations only; no stocks or donations of personal items, like clothes or household items.
Reference: https://www.cnbc.com/2020/11/23/cares-act-added-a-300-charitable-contribution-deduction-heres-how-it....
‎November 23, 2020
5:03 PM
1,364 Views