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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
This was a known error that has been corrected. If this is still showing up on your return.
Follow these steps:
- Click on Deductions and Credits at the top of page.
- Select Review/Edit.
- Click Edit to the right of Standard Deduction, click OK.
- Click Wrap Up Tax Breaks.
- Click Continue.
- Make sure that $300 is filled in and then click Continue.
- Click Let’s Keep Going.
If the issues still continues, use the following workaround:
- In TurboTax select Federal on left side panel.
- Select Deductions & Credits at the top of the page.
- Under Your Tax Breaks Scroll down to Charitable Donations.
- Click START to the right of Donations to Charity in 2020.
- Answer 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.
The $300 will appear on Line 10B and in the Charitable Contributions screen.
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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
You can deduct $300 for charitable contributions if you don't itemize your deductions, and up to 50% of your income if you do itemize your deductions.
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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
Thanks for the reply, Thomas! I guess I am still unsure why it says that $292 is too large, when I can deduct up to $300 for charitable deduction.
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I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
This was a known error that has been corrected. If this is still showing up on your return.
Follow these steps:
- Click on Deductions and Credits at the top of page.
- Select Review/Edit.
- Click Edit to the right of Standard Deduction, click OK.
- Click Wrap Up Tax Breaks.
- Click Continue.
- Make sure that $300 is filled in and then click Continue.
- Click Let’s Keep Going.
If the issues still continues, use the following workaround:
- In TurboTax select Federal on left side panel.
- Select Deductions & Credits at the top of the page.
- Under Your Tax Breaks Scroll down to Charitable Donations.
- Click START to the right of Donations to Charity in 2020.
- Answer 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.
The $300 will appear on Line 10B and in the Charitable Contributions screen.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I had $292 in charitable donations for 2020. Apparently my cash charitable amount is too large. What cash charitable amount is acceptable on the 1040 form?
This answered my question perfectly! Thank you so much. After using the second approach you suggested, it fixed the issue. Have a great night.
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