Question

Final Program Updates

Forum|Forum|5 years ago
February 4, 2021
1 reply
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When will the FINAL updates to Turbo Tax 2020 be available. I'm waiting for these updates, particularly the Property Tax and Charitable Contribution sections, in order to complete my taxes.

H

HelenC12

I checked the forms availability list and it shows that Form 8283, Noncash Charitable Contributions, is currently available. I also entered property taxes in my "test" TurboTax and did not have an issue.

If you're using the TurboTax CD\Download version, manually update your software.
If you're using the TurboTax Online version, logout, clear your cookies and your cache and restart your computer.

For 2020, there's a special provision on your federal income tax return. Even if you don’t itemize, you may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualified organizations.

Under this new change, individual taxpayers can claim an "above-the-line" deduction of up to $300 for cash donations made to charity during 2020.

This means the deduction lowers both adjusted gross income and taxable income – translating into tax savings for those making donations to qualifying tax-exempt organizations.
The amount will appear on Form 1040 Line 10b.

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