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March 19, 2021
Question

As with the CARES Act of 2020 did the American Rescue Plan of 2021 eliminate Required Minimum Distributions for 2021 and the $300 charitable donation off top of income?

  • March 19, 2021
  • 1 reply
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    1 reply

    March 19, 2021

     

    RMDs are required for 2021.

     

    For the above the line deduction of $300 for cash donations, in 2021 the deduction is maintained with the limit increasing to $600 for couples filing jointly.

     

    @lutchanl-alaska-

     

    @Hal_Al  Thank you for the correction.

     

     

    [Edited 03/19/2021  | 11:21 AM PST] 

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    Hal_Al
    Employee
    March 19, 2021

    @MinhT1 

      The RMD waiver was only for 2020.  But, the charitable thing was continued for 2021 and was doubled to $600 for Married filing jointly.

    Reference: https://www.aarp.org/money/taxes/info-2020/how-to-deduct-2020-charity-donations.html