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In reading some posts, people mentioned the ability to get credit for cash donations as a reduction of taxable income on line 10b, even if you take the standard deduction.
When I enter my contributions going through the questions for deductions, Turbo Tax takes my information but it only tracks it but is not posting any of the cash donations to my line 10b. It does not give me any options to take them as a reduction in taxable income.
How do I get these to go to line 10b? I can't even go to forms, 1040 and double click on line 10b. It does not take me anywhere.
Trying to make sure I don't miss any credits or reductions!
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Once you have finished entering all your Income and Deductions (including each of your charitable contributions), TurboTax will tell you if you qualify for the Standard Deduction or the Itemized Deduction.
If you receive the Standard Deduction, the cash donations you entered (up to a max of $300) will be entered on Line 10b of Form 1040 for you.
You are correct that you cannot enter an amount there yourself.
Click this link for more info on Charitable Contributions.
Thank you for the response. Sadly, I did complete the deductions and the system said I standard deduction was better for me. However, the TurboTax did not put that amount on line 10b. Is there a glitch that needs to be fixed?
This is frustrating from the customer stand point. Not sure other software providers have the same issue. I have had a constant issue with the AOC and now the LLC for college expenses. I had to spend hours on the phone with reps to find out why the system wasn't allowing the information to properly report.
Thank you again!!!
If you are in TurboTax Online, the screen Charitable Cash Contributions under CARES Act appears as the end of Deductions & Credits. First you have to pass the screen Based on what you told us, the standard deduction is best for you at the end of Deductions & Credits.
But you have to qualify for the standard deduction before the screen appears. Follow these steps:
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