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What happens to direct non-taxable contribution from brokerage when you do standard deduction?

What happens to direct non-taxable contribution to a church from a brokerage account when you do a standard deduction?
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1 Reply
JillS56
Expert Alumni

What happens to direct non-taxable contribution from brokerage when you do standard deduction?

The IRS is allowing a $300 per person above the line deduction for charitable donations if you do not itemize.   This would be $600 for a married filing joint return.  So that you can get the above-the-line charitable deduction, enter the donations under Deductions and Credits.   When you get towards the end of the return and get ready to e-file, TurboTax will ask you if you want to claim the $300/$600 for charitable donations.   Enter either the $300/$600 depending on your filing status.

 

 

 

 

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