Federal 1040 line 12b Charitable Cash Contributions under CARES Act can be entered or removed at either:
- Federal Taxes / Deductions & Credits / Your tax breaks / Donations to Charity in 2021 or
- at the screen Charitable Cash Contributions under CARES Act immediately following Based on what you just told us, the Standard Deduction is best for you.
But the second entry appears to produce better results.
That is why some are recommending that you delete Donations to Charity in 2021. This invokes the standard deduction and the second option becomes available to you.
- Remove the entries at Donations to Charity in 2021 by deleting the entries.
- Scroll to the bottom of the page and click on Wrap up tax breaks.
- You will see the screen Based on what you just told us, the Standard Deduction is best for you.
- At the screen titled Charitable Cash Contributions under the CARES Act, make sure that the box contains the amount of the deduction for which you qualify.
- At Other Tax Situations, scroll to the bottom of the page and click on Let’s keep going.
- Continue through Review.
Go to Tax Tools / Tools / View Tax Summary / Preview my 1040 to view line 12b for the charitable deduction.
How much are the charitable contributions recorded on the K-1? Please clarify.
@k672m
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