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Deductions & credits
Yes, TurboTax is applying the new Charitable Contribution limits. The CARES Act temporarily eliminates the limit placed on cash contributions you can deduct if you itemize your deductions.
Also remember that under the CARES Act, you can still deduct up to $300 in cash contributions if you claim the standard deduction.
Click this link for more detailed info on Donating to Charity.
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‎February 18, 2021
9:55 AM