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Level 1
Dec 29, 2020 1:33 AM UTC
Question

Cares Act

I don't itemize, but I heard we can take up to $300 in deductions if we contributed to a qualified charity. Does the charity have to specifically apply for that $300 provision allowing me to take that deduction even though they are already have tax exempt status. Thanks in advance

    1 reply

    macuser_22
    Alumni - Champ
    Alumni - Champ
    Dec 29, 2020 1:52 AM UTC

    Correct, but it must be a cash donation.  Just enter is as a charitable donation in the Deduction & Credits section and when you are totally done with that section TurboTax will say the standard deduction will be used and will place up to $300 on the 1040 line 10b.

    **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**