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Charitable Deductions for 2020
It appears that many taxpayers are not familiar with the special $300 tax deduction for charitable contributions even if you do NOT itemize your deductions. This is a special tax law change made earlier this year that allows cash donations up to $300 made before December 31, 2020 to be deductible when you file your 2020 taxes next year.
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Charitable Deductions for 2020
Thanks for the PSA ... when the TT program is fully operational in January we will see if that is a question for all users to answer or an information screen in the interview tree.
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Charitable Deductions for 2020
Can contributions I made to my church this year (2020) be the $300 charitable deduction under the CARES Act?
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Charitable Deductions for 2020
Any charity that is a 501(C)(3) is deductible. If you have given to the church in previous years and deducted it, this year will be no different.
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Charitable Deductions for 2020
@rmgbhg wrote:
Can contributions I made to my church this year (2020) be the $300 charitable deduction under the CARES Act?
You can deduct up to $300 of charitable donations as an adjustment to income on the 2020 Form 1040 Line 10b.
If you don't itemize deductions on Schedule A (Form 1040), you (or you and your spouse if filing jointly) can take a charitable deduction of up to $300 for cash contributions made in 2020 to organizations that are religious, charitable, educational, scientific, or literary in purpose.