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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
I have checked all donations within that $292 amount with the IRS TEO Tool and all are to appropriately listed organizations.
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February 5, 2021
11:30 AM
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Deductions & credits
You can deduct $300 for charitable contributions if you don't itemize your deductions, and up to 50% of your income if you do itemize your deductions.
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February 5, 2021
7:23 PM
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Thanks for the reply, Thomas! I guess I am still unsure why it says that $292 is too large, when I can deduct up to $300 for charitable deduction.
February 8, 2021
5:32 PM
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Deductions & credits
This was a known error that has been corrected. If this is still showing up on your return.
Follow these steps:
- Click on Deductions and Credits at the top of page.
- Select Review/Edit.
- Click Edit to the right of Standard Deduction, click OK.
- Click Wrap Up Tax Breaks.
- Click Continue.
- Make sure that $300 is filled in and then click Continue.
- Click Let’s Keep Going.
If the issues still continues, use the following workaround:
- In TurboTax select Federal on left side panel.
- Select Deductions & Credits at the top of the page.
- Under Your Tax Breaks Scroll down to Charitable Donations.
- Click START to the right of Donations to Charity in 2020.
- Answer YES.
- Click ADD next to Money.
- Type in the name of the charity that you donated to.
- Type the amount of the donation.
- Select Done with donation.
- Select Done.
The $300 will appear on Line 10B and in the Charitable Contributions screen.
February 9, 2021
9:43 AM
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This answered my question perfectly! Thank you so much. After using the second approach you suggested, it fixed the issue. Have a great night.
February 9, 2021
3:51 PM