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Level 1
March 10, 2021
Question

$300 COVID Charitable Contribution

  • March 10, 2021
  • 2 replies
  • 20 views

Unless I missed it, Turbo Tax did not suggest that filers who don't itemize to review the charitable contributions to take the $300.  As I know I cannot itemize and will take the standard deduction I never go through the itemized interview questions.  I therefore filed and missed this deduction.  I know I can amend, but not sure it is worth the effort.

    2 replies

    Level 2
    March 25, 2021

    How do I take the $300 COVID Charitable Contribution?

    Level 3
    March 25, 2021

    To take the $300 charitable contribution deduction.

    You can enter your charitable contributions like you are itemizing.  Then when TT says you are better off with the standard deduction, it will automatically populate the $300 deduction line on your form assuming you entered at least $300 in contributions.  Hope this helps.

    Level 15
    March 25, 2021

    it is only with $300 times your marginal tax rate.... so if your marginal tax rate, for example, is 12%, it is worth $36. 

    Level 3
    March 25, 2021

    BTW, even though it is small, perhaps only $36, it is better than a kick in the teeth.