As with the CARES Act of 2020 did the American Rescue Plan of 2021 eliminate Required Minimum Distributions for 2021 and the $300 charitable donation off top of income?

lutchanl-alaska- · ‎March 19, 2021

MinhT1 · ‎March 19, 2021

RMDs are required for 2021.

For the above the line deduction of $300 for cash donations, in 2021 the deduction is maintained with the limit increasing to $600 for couples filing jointly.

@lutchanl-alaska-

@Hal_Al Thank you for the correction.

[Edited 03/19/2021 | 11:21 AM PST]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Hal_Al · ‎March 19, 2021

@MinhT1

The RMD waiver was only for 2020. But, the charitable thing was continued for 2021 and was doubled to $600 for Married filing jointly.

Reference: https://www.aarp.org/money/taxes/info-2020/how-to-deduct-2020-charity-donations.html

Expert does your taxes

Do it yourself

Resources

Support

As with the CARES Act of 2020 did the American Rescue Plan of 2021 eliminate Required Minimum Distributions for 2021 and the $300 charitable donation off top of income?