HUCM
Returning Member

Retirement tax questions

WRONG for 2020.  According to OPM, you can deduct even if you take the standard deduction and do not itemize.

 

OPM sent out a message that states:

 

"The Combined Federal Campaign (CFC) is one of the largest and most successful workplace fundraising campaigns in the world. After years of public service, federal retirees may want to continue giving back to their community, country, and people around the world. Whether you are returning or pledging for the first time, participation in the CFC is a great way to extend that spirit of service, as the funds raised help those who need it most.

Did you know that new legislation in 2020 allows taxpayers to deduct $300 ($600 for married couples) for qualifying charitable donations even when taking the standard deduction? Additionally, if you need to make a required minimum distribution from your retirement account, you can give to your favorite charities through the CFC! Pledge today at GiveCFC.org.

Please take a look at this encouragement video:

https://givecfc.org/sites/cfc.org/files/2020%20CFC%20Retiree%20Video.mp4

OPM Retirement Services