If you are referring to the $300 as an adjustment to income (line 10b) if you made a cash contributions to a charitable organization, even when you are claiming the Standard Deduction then please try the steps below to enter this correctly into TurboTax. You do not enter this in the Itemized Deduction section.
Please follow these steps to enter the charitable cash contribution for 10b :
- Login to your TurboTax Account
- Click "Federal" from the left side of your screen
- Click “Deductions &Credits” on the top
- Scroll all the way down and click the "Wrap up tax breaks" button
- Continue until the "Charitable Cash Contributions under Cares Act" screen
- Enter your charitable cash contributions
To verify your entry:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
As I said in my original post, I itemized my deductions. To be clear, I am NOT taking the standard deduction.
Also, I am using the software that I downloaded from a vendor, so I don't log in to a TurboTax account.
Since I itemized my deductions, telling me to enter them into box 10b is incorrect.
So your reply doesn't answer my question.
There is a bug on deducting the Cares Act Cash Contribution for $300 if you file using the Standard Deduction. There's simply no way to get around it. Fails every time. Need answer ASAP or using another tax software company.
This was an known issue that has now been resolved. Here are the steps to correct it. If you donation amount is different then change the $300 to your donation amount.
- Click Deductions and Credits
- Select Review/Edit
- Click Edit to the right of Standard Deduction
Click OK, Sounds Good
- Click Wrap Up Tax Breaks
- Click Continue
- Make sure that $300 is filled in and then click Continue
- Click Lets Keep Going
Here is the work around for claiming the $300 Charity Deduction:
- In TurboTax select Federal in the panel on the left
- Select Deductions & Credits at the top of the page
- Under Your Tax Breaks - Charitable Donations
- Click START to the right of Donations to Charity in 2020
- Click YES
- Click ADD next to Money
- Type in the name of the charity that you donated to
- Type the amount of the donation
- Select Done with Donation
- Select Done
Now the $300 will appear on Line 10B and in the Charitable Contributions screen
Please re-read my post. I am not claiming the standard deduction. That is my biggest problem. No one is reading the actual words to my post and seeing that I am NOT using the statndard deduction.
Please re-read my post. I am not claiming the standard deduction. That is my biggest problem. No one is reading the actual words to my post and seeing that I am NOT using the standard deduction.
Please follow the same steps, but enter (0) for the above line contribution since you will Itemize.
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
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
You are selecting ITEMIZED
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 ITEMIZING DEDUCTIONS enter 0
Scroll down and click Continue
Click Continue on the next screen
Go to Step-By-Step input (upper right corner)
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
If the next screen says “The Itemized deduction is Right for You!” click Continue
ON THE NEXT SCREEN enter (0) cash contribution made in 2020 and click Continue
Your 1040 should update
"The new "up to $300 above the line cash charity donation" is available for tax year 2020. This allows a Taxpayer to claim up to a $300 credit which is subtracted from income on the 1040 line 10c if the Taxpayer is claiming the Standard Deduction. (If you Itemize Deductions, all your donations will be listed on Schedule A.)"
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Thank you for being the first person to actually read my post correctly and not assume that I am using the standard deduction.
Unfortunately, putting a 0 in that box triggers an error that says, "Charitable Contributions has an unacceptable value."
Thanks, but I really think that TurboTax (Intuit) really needs to fix this bug in their software.
This is a known software issue. The workaround is to delete the $300 in the error check. Then go back to Deductions & Credits and enter the contribution there, in the Donations to Charity topic. Then click Done with Donations and proceed through the screens until you get to the screen that tells you that TurboTax has added in the contribution.
The contribution will be back on Form 1040 line 10b, but it won't be flagged as an error. It only gets flagged if you enter it when prompted after you finish Deductions & Credits and the software tells you that you are getting the standard deduction. It will not get flagged if you enter it in Donations to Charity.
After calling the support line, and being on there for an hour and 45 minutes, I finally was able to figure it out myself and was able to file my taxes.
I opened my return, then clicked on
I'll choose what I work on
Deductions and Credits
Scroll to the bottom, then click "Done with Deductions"
Let's check your deductions and credits, then click continue
Click continue on the next page
Instead of clicking the radio button for Itemize, I switched it to Standard Deduction.
Here's why - I was so close in my charitable deductions, that the software "saw" that I was able to choose itemized and save a few more dollars. However, with the standard deduction, you are allowed up to $300 as an additional deduction for charitable contributions this year when choosing the Standard deduction. The net refund actually INCREASED when going this route.
After choosing the Standard deduction, I clicked continue.
I kept clicking through all the way to the end, when the final review found 1 "error." In that error, I input a charitable contribution of $300 (which is the limit for choosing the standard deduction route) and finished up, and was able to file my taxes at this point.
I hope that helps!