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krilling02
New Member

I need help figuring out what is supposed to be in line 10b on the 1040

 
5 Replies
BillM223
Expert Alumni

I need help figuring out what is supposed to be in line 10b on the 1040

This is a two-step process, so read carefully.

 

For 2020, Congress has changed tax law to permit the deduction of certain charitable contributions “above the line”, even if the taxpayer is taking the Standard Deduction otherwise. The new deduction will appear on line 10b on the 1040.

 

There are restrictions: the contribution must be in cash or cash-equivalent and it cannot exceed $300 for most filing statuses (exception: $150 for Married Filing Separate).

 

To enter this deduction, you must enter the charitable contributions as if you were going to itemize these contributions (do a Search (upper right) for charitable contributions and click on the jump-to result). Be sure to indicate that the contribution was “Money” or else TurboTax will not ask about it later.

 

Note that you do not need to enter any other charitable contributions if you are not planning to itemize.

 

Then, in the Federal Review at the end of your data entry, TurboTax will realize that you are taking the Standard Deduction and ask you to enter the amount of the charitable contribution that was in cash. Note the limits described above ($300 or $150); in the desktop product, at least, if you enter an amount larger than this, you will be asked to reduce it to the limit when you enter the amount.

 

When you enter the cash-based charitable contribution this way, the result will appear on line 10b on the 1040 as an above-the-line deduction.

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Dunlog
Level 2

I need help figuring out what is supposed to be in line 10b on the 1040

I am itemizing and TT is recording $300 on line 10b plus my full charitable contribution of $900 on Schedule A. Double counting!

 

I assume line b is either: 

- only for those who are taking the standard deduction or

- my charitable donations on Schedule A should reduce for the $300 that is being attributed to line 10b. 

 

Any thoughts on how to correct this?

VolvoGirl
Level 15

I need help figuring out what is supposed to be in line 10b on the 1040

10b is only if you take the Standard Deduction.  Are you sure you aren't getting the Standard Deduction on line 12?  How much is on 12?

 

For 2020 the standard deduction amounts are:

Single 12,400 + 1,650 for 65 and over or blind (14,050)

HOH 18,650 + 1,650 for 65 and over or blind

Joint 24,800 + 1,300 for each 65 and over or blind

Married filing Separate 12,400 + 1,300 for 65 and over or blind

Dunlog
Level 2

I need help figuring out what is supposed to be in line 10b on the 1040

I am  itemizing due to my mortgage and taxes deductions exceeding the MFJ standard deduction. Line 12 is $40k.

 

However TT is still putting the $300 on Line 10b. 

 

You are right about the $300 only be for non-itemizers but I cant work out how to get rid of the TT error on my form. 

 

 

JamesG1
Expert Alumni

I need help figuring out what is supposed to be in line 10b on the 1040

If you are in TurboTax Online, the screen Charitable Cash Contributions under CARES Act appears as the end of Deductions & Credits. First you have to pass the screen Based on what you told us, the standard deduction is best for you at the end of Deductions & Credits.

 

But you have to qualify for the standard deduction before the screen appears.  So you may want to change the value of one or more itemized deductions to $1 so that you qualify for the standard deduction.

 

Follow these steps:

 

At the top of the screen, click on Deductions & Credits.

Scroll to the bottom of the page and click on Wrap up tax breaks.

Continue through several screens.

At the screen Based on what you told us, the standard deduction is best for you, click Continue.

At the screen Any Charitable Cash Contributions? remove the dollar amount.

 

Continue through Federal Review to make sure that things look correct.

Then restore your itemized deductions dollar amounts.

 

See also this TurboTax Help.

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