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posted Jun 3, 2019 10:14:12 AM

In the new tax changes for Vermont I heard there is a deduction dollar for dollar for charitable donations even if you take the standard deduction. How does that work?

In filing the Vermont tax for 2018 and taking the standard deduction where do I put in the deduction for charitable contributions?

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1 Best answer
Level 1
Jun 3, 2019 10:14:13 AM

Vermont's Charitable Contribution Tax Credit is a 5% credit of the first $20,000 in eligible charitable contributions made during the taxable year regardless of whether taxpayers itemize on their federal tax returns.

Enter the information in your Federal interview, even if you are not taking the federal deduction. This will automatically import into your Vermont state return to calculate the tax credit.

For more information. follow this link: Vermont Charitable Contributions Credit

1 Replies
Level 1
Jun 3, 2019 10:14:13 AM

Vermont's Charitable Contribution Tax Credit is a 5% credit of the first $20,000 in eligible charitable contributions made during the taxable year regardless of whether taxpayers itemize on their federal tax returns.

Enter the information in your Federal interview, even if you are not taking the federal deduction. This will automatically import into your Vermont state return to calculate the tax credit.

For more information. follow this link: Vermont Charitable Contributions Credit