Please follow these steps to enter the charitable cash contribution for 10b (do not enter it under Deduction & Credits in the Charitable Donations section):
To verify your entry:
You are correct that you can claim the $300 on top of the standard deduction. However, there is a problem with the Contributions section of the Itemized deductions and also the above the line $300.00 deduction. You cannot file your return yet because not all forms have been finalized by the IRS and we cannot submit the return. You will not have to do anything else with the deduction, you just need to wait and when it is ready be sure to check to see if contributions reflect as you want them to be show. Just check back as often as you like every few days. We do not have an expected date yet.
Because of the many changes due to the CARES Act, IRS is still developing the forms and publications on this issue. Last update was January 13th where everything is still in draft. Once IRS finalizes the forms, we will be able to update TurboTax to accurately reflect your Contributions deduction.
Here are some of the changes due to the CARES ACT
The new legislation allows tax deductions on two types of charitable gifts. First, it allows up to $300 given to a qualified charity to be claimed as an above-the-line deduction. After the Tax Cuts and Jobs Act, which went into effect in 2018, increased the standard deduction, many taxpayers had less incentive to donate to charities. Instead, they took the standard deduction and stopped itemizing.
For taxpayers who will itemize deductions, the CARES Act effectively suspends the limit on deductions for cash contributions to public charities for 2020. “That allows individuals to completely wipe out their AGI, and their tax liability, with a charitable contribution.
Please follow these steps to enter the charitable cash contribution for 10b (do not enter it under Deduction & Credits in the Charitable Donations section):
To verify your entry:
This is great, and I'm closer, but still not able to file. I put "300" as my charitable contributions, but when I wrap up e-filing, it says "Cash charitable is too large," and prompts me to fill a box between 10a and 10b. Is 300 too large of a number for this box? I thought it was the max that I could claim on top of my standard deduction.
You are correct that you can claim the $300 on top of the standard deduction. However, there is a problem with the Contributions section of the Itemized deductions and also the above the line $300.00 deduction. You cannot file your return yet because not all forms have been finalized by the IRS and we cannot submit the return. You will not have to do anything else with the deduction, you just need to wait and when it is ready be sure to check to see if contributions reflect as you want them to be show. Just check back as often as you like every few days. We do not have an expected date yet.
Because of the many changes due to the CARES Act, IRS is still developing the forms and publications on this issue. Last update was January 13th where everything is still in draft. Once IRS finalizes the forms, we will be able to update TurboTax to accurately reflect your Contributions deduction.
Here are some of the changes due to the CARES ACT
The new legislation allows tax deductions on two types of charitable gifts. First, it allows up to $300 given to a qualified charity to be claimed as an above-the-line deduction. After the Tax Cuts and Jobs Act, which went into effect in 2018, increased the standard deduction, many taxpayers had less incentive to donate to charities. Instead, they took the standard deduction and stopped itemizing.
For taxpayers who will itemize deductions, the CARES Act effectively suspends the limit on deductions for cash contributions to public charities for 2020. “That allows individuals to completely wipe out their AGI, and their tax liability, with a charitable contribution.
Excellent, thank you for the clarity. I'll check in next week.
All of these answers assume that you are using the online TurboTax. I am using TurboTax 2020 on my iMac. None of the solutions work with the iMac version of the program. The links the "solutions" tell you to click on do not exist in my desktop version. HELP!!!!
Bill Armstrong
hi
Mine is same too. Please let me know If you find any solution!
Thank you
Hi Bill,
It looks like we're just waiting for the form to be fixed on Turbo Tax. I'm checking back next week.
When you will fix this issue? Can you please help?
Thank you.
Hello I am having the same problems here.
I have tried to follow the directions from the expert.
However it does not work ..I have read that there is a software problem is this true?
Should I wait a few days and try again?
I have put in $300 and it also rejects this.
It also wants me to check a box that says something about Fines??
I am using Turbo Tax Deluxe at my home.
Please help
Fred
I don't know if our problem is the same but I think I fixed mine. Let me explain you;
First of all I click "Federal" from the left side of your screen, click “Deductions &Credits” on the top. You will see Donations to Charity in 2020. Mine Donations to Charity in 2020 is $2. So I added $2 in Charitable Donations box. Then I fixed it like this way. Try this way and let me know please. I hope it works
Orhan Ozbek
This result occurs depending on the sequence of charitable donation entry details. Donations must first be entered regularly before answering the question about the extra above-the-line CARES Act deduction.
Return to the Donations section of your return, remove your entry in the CARES Act Charitable Donation screen, and enter it first in the regular charitable donations section.
The extra cash donation is allowable up to $300 for all taxpayers except married filing separate, who would each have a maximum of $150.
To do this in TurboTax, follow these steps:
For more information, see IRS Charitable Contributions Deductions.
@orhanozbeck
Hello Cynthia,
When we login to check will we just know it's fixed by refreshing the "review" area and seeing the alert regarding it go away? Just trying to understand if I'll have to redo any of the info to get the form working.
Kathryn,
Thanks everyone for the help.
I tried to follow the instructions best I can.
The only way I can get it to work is to enter $100 in line 10a and enter $100 in line10b
Then I get no errors ...but it does reduce my state return by $10.
And increase what I owe to the Feds by $24.
So not sure what to do...I guess I'll just live with it.
At least there is no errors.
Thanks for the help.
Fred
Below is my steps to fix, and also the way to check to see if it has been fixed:
If you are using TurboTax Desktop, you MUST switch to Step-By-Step mode (top right corner)
TurboTax ONLINE
Click Tax Tools on the left side bar
Click Tools from the drop-down
Click the "Topic Search" box on the screen
Type or scroll down to standard deduction and exemptions
Click GO
The next screen gives you an option to change your selection from Standard to Itemized and back. You do not need to change your selection
Scroll down to the bottom of that screen and click CONTINUE
The next screen is the Charitable Cash Contributions under Cares Act screen
IF YOU ARE CLAIMING STANDARD DEDUCTION enter the amount of cash contributions you made, up to 300
IF YOU ARE ITEMIZING DEDUCTIONS enter 0
Scroll down and click Continue
Click Continue on the next screen
DESKTOP
Go to Step-By-Step input
Click Federal
Click Deductions & Credits along the top
Click “I’ll choose what I work on”
Edit or Update Donations to Charity in 2020 if needed, then click “Done with Charitable Donations”
Scroll down the “Your 2020 Deductions & Credits” screen and click “Done with Deductions”
Click Continue on the “Let’s Check Your Deductions and Credits” screen
Continue through the following interview questions until you get to the “Here Are Your 2020 Deductions & Credits” screen
Click Continue
If the next screen says “The Standard deduction is Right for You!” click Continue
ON THE NEXT SCREEN enter the cash contribution made in 2020 and click Continue
Your 1040 should update
To verify in TurboTax Online
click “Review” if necessary, in order to get Tax Tools on the left side bar
Click Tax Tools on the left side bar
Click Tools on the drop down list
Click “View Tax Summary” on the “Tools Center” screen
When the next screen appears (Review Tax Summary) ON THE LEFT SIDE BAR you should see “Preview my 1040”
Click “Preview my 1040” on the left side bar
Scroll down to line 10b on the 1040.
Unfortunately none of these suggestions resolved the issue. Here is a screenshot of what I am running into. I have standard deduction selected and no matter what amount I put in the charitable donation box it gives me an error that it's too large. My husband and I donated a total of $510 so I put in the max of $300 and that gave me the too large error. I tried $299 just to see and still get the error. I cannot move past this as it will not let me file without it corrected.
I apologize for coming into this conversation so late, but..... $250 is the maximum you can deduct without filling out additional forms because it is the maximum allowable now with the change in SD amounts allocated to all.
Thanks for your response Wendy! I just tried adjusting to $250 and I am still getting the error that the number is too large. Any other thoughts?
the same error is happening to me. I don't do my taxes online. how do I fix it?
It depends. Are you claiming the standard deduction and trying to claim the $300 charitable contribution deduction. If so, don't enter directly on line 10B of the 1040.
Hi Dave,
Sadly, it's been a few weeks now, and none of these suggestions work. I followed your instructions chose $300 as our amount contributed on top of the standard deduction back at the federal deductions and credits section, and I'm still not allowed to file my taxes because of this bug. I've attached a screenshot of my version of part 10. Do you see anything wrong? Or am I just waiting for TurboTax to fix this?
The "trick" is to get it to go through the charitable deductions again and then TurboTax understand that you are taking a standard deduction and qualify for the $300 charitable cash deduction.
Hi Mary,
This still isn't working. I've gone through your way, and TurboTax will not let me file. It keeps saying 300 is too large for cash charitable. This must be an error on TurboTax's side, right? Is there a way to alert TurboTax of the software bug? It won't accept the value it says it will accept.
Remove the 300 and leave the field blank to see if that removes the error. Then reenter the number. You also may need to clear your cookies and cache. Make sure your return is saved in your TurboTax account and then sign out. Clear the cache and delete the cookies on your computer, open a new browser, sign back into your account and try entering the information again.
If you still continue to have the same problem, please click the link to contact TurboTax customer support. This will connect you to live support and they will be able to assist you.
[Edited 03-07-2021|12:17 AM PST]
For me the "gotcha" here is that you can't just enter a number like $300 in that field, you have to enter at least that much in itemized donations. So under Federal > Deductions & Credits > Charitable Donations > Start Or the Edit/Add button at the top if you're already entered some. Once you're over the the $300 threshold (or however much you've donated) you can enter $300 (or however much) for donations like you would normally.