topic Re: Charitable Donations in Deductions & credits

Charitable Donations

Schuyler-5 — Mon, 01 Mar 2021 23:03:33 GMT

How much money/donation wise do I have to make before I can claim it on my 2020 taxes?

VolvoGirl — Mon, 01 Mar 2021 23:08:42 GMT

This year you can enter any amount. You get to deduct up to $300 in addition to the Standard Deduction.

If you have more Deductions than the Standard Deduction you can Itemize on Schedule A.

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

SweetieJean — Tue, 02 Mar 2021 00:52:24 GMT

But you had to already make that donation in 2020.