- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
Go to the Charitable Donations section under Deductions & Credits to enter the amount of your cash donation. If you do not itemize, then the amount of the cash donation up to $300 will automatically carry to form 1040 line 10b. This will correct the problem.
To enter charitable donations -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Charitable Donations
- On Donations to Charity in 2020, click on the start or update button
Under the CARES Act, there is the addition of a new charitable deduction up to $300 on your 2020 taxes for your cash donations made to a 501(c)(3) organization even if you don’t itemize your deductions. This will be something for taxpayers to keep in mind since close to 90% of taxpayers now claim the standard deduction instead of itemizing and are no longer able to deduct charitable contributions under tax reform.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
I followed the directions to populate Form 1040-SR, line 10b but the $300 did not fill in. HELP!
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
Review your input and make sure you have done the following.
You will make this entry in the Federal interview section of the program.
- Select Deductions & Credits
- Scroll down to All Tax Breaks and select Charitable Donations
- Select Start to the right of Donations to Charity in 2020
- Proceed to enter the details of your charitable cash contribution by entity as applicable in this section.
- Once you have completed entering your details, select Done with Charitable Donations
Continue through the screens until you see the screen titled Charitable Cash Contributions under Cares Act. You will be able to confirm the amount of your cash contributions on this screen.
Your input in both of the sections above will ensure you are either able to take the deduction if you are able to itemize, or will pick up the adjustment if you are taking the standard deduction.
Cash charitable donations information
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
I cannot find the screen that says Charitable cash contributions under CARES Act.
I followed the guidance her quite precisely, but no luck.
Thanks for any response!
Hans
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
I input all my Charitable donations but I couldn’t find that screen either. But all of a sudden $300 populated on line 10b. I hope the same happens to you!
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
No, It didn't just populate.
But I went into forms, f1040, entered $xxx into the field, clicked on the + beside it, entered the donation info into the small form, and suddenly all was well and the amount was accepted into f1040.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
Generally, you can't type numbers into a main form or schedule but must drill down into a worksheet and put the amounts there.
OR go through Step-By-Step.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
In this case it worked. Probably because I had first typed the donation into the area mentioned above using step by step.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
Tried everything but will not populate on 1040 10b
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
To edit the number on line 10, please follow these steps:
TurboTax ONLINE
Click Tax Tools on the left side bar
Click Tools from the drop-down
Click the "Topic Search" box on the screen
Type or scroll down to standard deduction and exemptions
Click GO
The next screen gives you an option to change your selection from Standard to Itemized and back. You do not need to change your selection
Scroll down to the bottom of that screen and click CONTINUE
The next screen is the Charitable Cash Contributions under Cares Act screen
IF YOU ARE CLAIMING STANDARD DEDUCTION enter the amount of cash contributions you made, up to 300
IF YOU ARE ITEMIZING DEDUCTIONS enter 0
Scroll down and click Continue
Click Continue on the next screen
DESKTOP
Go to Step-By-Step input (top right corner of screen)
Click Federal
Click Deductions & Credits along the top
Click “I’ll choose what I work on”
Edit or Update Donations to Charity in 2020 if needed, then click “Done with Charitable Donations”
Scroll down the “Your 2020 Deductions & Credits” screen and click “Done with Deductions”
Click Continue on the “Let’s Check Your Deductions and Credits” screen
Continue through the following interview questions until you get to the “Here Are Your 2020 Deductions & Credits” screen
Click Continue
If the next screen says “The Standard deduction is Right for You!” click Continue
ON THE NEXT SCREEN enter the cash contribution made in 2020 up to 300 and click Continue
Your 1040 should update
“The new "up to $300 above the line cash charity donation" is available for tax year 2020. This allows a Taxpayer to claim up to a $300 credit which is subtracted from income on the 1040 line 10c if the Taxpayer is claiming the Standard Deduction. (If you Itemize Deductions, all your donations will be listed on Schedule A.) “
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
I followed your instructions. After clicking "Done with Donations", I clicked "Continue". Now I can't find the "Here Are Your Deductions & Credits " screen!
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
Personal > Deductions and Credits > Your 2020 Deductions and Credits > Donations to Charity in 2020 > click on "Start" or "Update", whichever you're seeing to the far right of Donations to Charity in 2020 > make sure it is in there...follow through the section and it will eventually take you to the "Review all your Charities" page where you should see your entry listed.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
I eliminated my contributions since I’m taking the standard deduction but line 10b shows 300 in red.
Tried filling in my deductions both over and under 300 but the red 300 stays and is flagged.
How do I fix?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What is acceptable value for line 10b on form 1040 ? 300 does not work?
tried your instructions twice. Line 10b is still 300 in red
Still have questions?
Or browse the Forums