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Deductions & credits
Is the Standard Deduction within $300 of your Itemized Deduction?
If so, the program may have an issue since the Standard Deduction PLUS the "$300 above the line deduction" would be the better choice.
Could you be in that situation?
“The new "up to $300 above the line cash charity donation" is available for tax year 2020. This allows a Taxpayer to claim up to a $300 credit which is subtracted from income on the 1040 line 10c if the Taxpayer is claiming the Standard Deduction. (If you Itemize Deductions, all your donations will be listed on Schedule A.) “
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March 28, 2021
5:07 PM