I am taking the standard deductions for 2020 but I want to claim my cash charitable donations that are now allowed under the Cares Act. However, under the TurboTax entry form, it asks for review and that the number 300 is to high. Why is this? I made more than $300 dollars worth of charitable contributions this year so I want to claim the full $300 if possible.
Please ensure that you entered the cash contribution while claiming the Standard Deduction not under the Itemized Deduction.
Please follow these steps to enter the charitable cash contribution for 10b :
To verify your entry:
I found the cause for me was my entry error in the earlier charitable deduction worksheet. TurboTax had pulled over my charities for last year, but Without dollar amounts. I didn't notice that, so didn't enter this year's amounts, thereby saying I had donated $0 dollars. Of course, when I tried to claim the $300 at the end it did not match up. Went back, put in the amounts for this year's donations and the error was resolved.
Hi
I tried the steps you posted, but it's not solving the issue for me. I am still getting the same error message that my cash charitable is too large even though I did choose Standard deduction and put $300 when asked to put in the donation amount. Do you have any other solution on this issue?
Thanks,
If you are using TurboTax Desktop, you MUST switch to Step-by-Step input mode (top right)
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
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
“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.) “
I had the same issue - it turned out that the charities I had donated to in 2019 came over so I had to enter a value greater than 300 in one of them. Once I did that, then the validation started working. To get there, go to Federal > Deductions & Credits, then expand Charitable Donations and click Start/Revisit next to "Donations to Charity in 2020". If it tries to encourage you not to fill it out, just click the option to enter it anyway. Then you can add an amount.
If you made no cash donations of up to $300 leave the first box blank, save. This should resolve the issue.
Finally found how to enter amounts for the charities carried over from last year.
Even though I indicated to take the Standard deduction, it still had entries for the itemized deductions.
Updated the amounts for the charities and then it cleared the error!
I've done all of this, viewing my 1040 shows the $300 and I'm still getting the error.