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Deductions & credits
It depends. In the TurboTax Online version the special "above-the-line" deduction of up to $300 ($600 for MFJ) for cash donations made to charity during 2021, is working. This means the deduction lowers both adjusted gross income and taxable income – translating into tax savings for those making donations to qualifying tax-exempt organizations.
Go to the Charitable Donations section under Deductions & Credits to enter your cash donation.
To enter charitable donations follow these steps.
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Scroll down to Charitable Donations
- On Donations to Charity in 2021, click on the start or revisit button
Or enter donations in the Search box located in the upper right > Press enter > Click on Jump to donations
Complete your entry.
Once you make the entry you should be able to check it by using the Tax Tools:
- To find Tools:
- Sign into your TurboTax account and open or continue your return.
- Select Tax Tools in the left menu.
- You'll find Tools beneath Tax Tools.
- Select View Tax Summary
- Select Preview My 1040 (left black panel)
- See the image below for the desired result.
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January 3, 2022
7:08 AM