Thank you for sharing your experience. Yes, you are correct. Itemized deduction filers are not eligible for the Charitable Donations above-the-line deduction. Standard deduction filers can take up to $300, but should be reported in the amount given.
To qualify for the Cares Act above-the-line deduction up to $300 for all taxpayers except married filing separate, who would each have a maximum of $150, for standard deduction filers, the IRS clarifies that the contribution must be:
- a cash contribution;
- made to a qualifying organization;
- made during the calendar year 2020
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