topic Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ? in Deductions & credits

Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

redleg11 — Sun, 13 Dec 2020 19:28:08 GMT

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

DoninGA — Sun, 13 Dec 2020 19:35:12 GMT

Yes, the software includes the $300 cash above the line charitable contribution adjustment to income on Form 1040 Line 10b

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

djcarsy — Wed, 23 Dec 2020 21:45:29 GMT

Where do you enter the information? Does not work if you enter it in Deductions.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

DoninGA — Wed, 23 Dec 2020 22:02:29 GMT

The software has not yet been updated to include the charitable contribution entry on Form 1040 Line 10b.

The 2020 Form 1040 is scheduled to be finalized on 01/07/2021 (subject to change)

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

Critter-3 — Wed, 23 Dec 2020 22:21:19 GMT

Just enter the donations in the charity section of the deductions & credits tab and if you do not itemize deductions then the program will automatically enter the $300 correctly ... nothing extra you need to do.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

jim-millcreek — Fri, 01 Jan 2021 16:16:25 GMT

Yes ..it does reflect/allow a $300 deduction...But a PROBLEM...the law is $300 per person...but if one files a joint married return...turbo tax sill only allows $300...and an override screws things up...Intuit needs to fix this

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

DoninGA — Fri, 01 Jan 2021 16:31:44 GMT

@jim-millcreek wrote:

Yes ..it does reflect/allow a $300 deduction...But a PROBLEM...the law is $300 per person...but if one files a joint married return...turbo tax sill only allows $300...and an override screws things up...Intuit needs to fix this

The Form 1040 instructions for tax year 2020 state that the amount that can be entered for a cash contribution cannot be more than $300 when Married Filing Jointly

https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf#page=29

Line 10b
If you don't itemize deductions on Schedule A (Form 1040), you (or you and your spouse if filing jointly) may be able to take a charitable deduction for cash contributions made in 2020. Enter the total amount of your contributions on line 10b.

Don't enter more than:
• $300 if single, head of household,
or qualifying widow(er);
• $300 if married filing jointly; or
• $150 if married filing separately.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

kaniclassic — Fri, 08 Jan 2021 22:54:19 GMT

I'm not able to see this under the donations section, is anyone else having this issue?

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

jim-millcreek — Sat, 09 Jan 2021 11:47:07 GMT

Yes..line 10b of the 1040 ...but there is a problem, in my view, with the IRS instructions for Form 1040...the IRS is allowing $300 if single but only $150 per person if married,,., The law says $300 per individual... we all need to pressure the IRS to fix their instructions to conform with the law. ..otherwise we lose entitlements or will be in dialogue for years

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

daddeebeard — Sun, 10 Jan 2021 16:56:37 GMT

How and where? Didn't see it in the interview

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

daddeebeard — Sun, 10 Jan 2021 17:00:16 GMT

I think it is $300 for both single and joint filers; $150 for married filing separately per the IRS website. Go to Line 10b, Form 1040.

Subject to change I guess but check it out

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

DoninGA — Sun, 10 Jan 2021 17:06:10 GMT

@daddeebeard wrote:

How and where? Didn't see it in the interview

The program asks about cash contributions after you complete the Deductions & Credits section if your Itemized Deductions are less than the Standard Deduction for your filing status.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

sassydognd — Mon, 11 Jan 2021 22:49:12 GMT

I am using Home and Business and the $300 deduction does not appear on line 10b of form 1040-SR. I entered the donations in the charitable contributions section of deductions and credits but it did not post as noted for the premier version.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

Critter-3 — Mon, 11 Jan 2021 23:10:36 GMT

Is your program up to date ? And did you enter cash donations ?

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

sassydognd — Mon, 11 Jan 2021 23:19:28 GMT

Program was updated 1/10/2021 and donations are entered in deductions and credits.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

Critter-3 — Mon, 11 Jan 2021 23:29:02 GMT

OK ... then it could be a glitch which means just waiting for an update ... don't be in a rush to file especially before the IRS starts accepting returns. The Sch A is not expected to be fully functional until 1/14 so try again next year. Switch to the FORMS mode if you wish and make the entry manually but any overrides will void the accuracy guarantee and could keep you from efiling ... so make sure to undo it before you efile.

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

KingKahuna33 — Sun, 24 Jan 2021 19:11:38 GMT

I just purchased Premier for PC, and I can confirm that the dialog for the current most updated version does not ask the question in the dialog for the $300 Cares Act deduction if Standard deduction is used nor transfer cash charitable deductions previously entered under the Itemized Deduction dialogs.

Overriding Line 10b on Form 1040, the calculation is all messed up completely and does not carry through.

Is there an official bug report filed to fix this issue?

This is a costly bug to us customers that must must take the standard deduction! Please report if a bug fix is being worked!

Thank you!

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

Critter-3 — Sun, 24 Jan 2021 19:22:20 GMT

This is a know bug and has been reported. Go ahead and clear the amount entered.

Go back to the Deductions & Credit section for charitable donations and enter the cash contribution in that section. That should 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

Or enter charitable donation in the Search box located in the upper right of the online program screen. Click on Jump to charitable donation

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

KingKahuna33 — Sun, 31 Jan 2021 18:00:58 GMT

@Critter-3 wrote:
This is a know bug and has been reported. Go ahead and clear the amount entered.

Go back to the Deductions & Credit section for charitable donations and enter the cash contribution in that section. That should 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
Or enter charitable donation in the Search box located in the upper right of the online program screen. Click on Jump to charitable donation

Thank you, but that did not work.

I received two updates during the last week. I still don't see that question, but when I went through the final review, it did now ask me to enter the $300 deduction and it appears properly calculated on form 1040!

Excellent!

Re: Does Turbo Tax for 2020 account for the provision in the coronavirus -related CARES ACT $300 above the line charitable deduction even though I do not itemize ?

8343lowe — Tue, 02 Feb 2021 03:49:18 GMT

Where in the Turbo tax program does the $300 charitable contributions above the standard deduction allowable on the 2020 taxes show up?