Skip to main content
May 1, 2021
Question

Itemizing

  • May 1, 2021
  • 2 replies
  • 0 views

I was told that there is a $300  one time credit if you do not itemize deductions,  is this true and where do you put this on your tax form? 

2 replies

May 1, 2021

Yes, this year you can claim $300 as an adjustment to income (line 10b) if you made a cash contributions to a charitable organization, while claiming the Standard Deduction.

 

Please follow these steps to enter the charitable cash contribution for 10b  in TurboTax Online:

  1. Login to your TurboTax Account 
  2. Click "Federal" from the left side of your screen
  3. Click “Deductions &Credits” on the top
  4. Scroll all the way down and click the "Wrap up tax breaks" button
  5. Continue until the "Charitable Cash Contributions under Cares Act" screen
  6. Enter your charitable cash contributions.

 

In TurboTax Desktop:

  1. Open you return
  2. Click "Federal"
  3. Click “Deductions &Credits” on the top
  4. Click "I'll choose what to work on"
  5. Scroll all the way down and click the "Done with deductions" button
  6. Continue after the "The Standard Deduction is right for you!" screen
  7. Continue until the "Any charitable cash contributions" screen
  8. Enter your charitable cash contributions.

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
Critter-3
May 1, 2021

 For 2020, you are allowed to deduct up to $300 ($150 if Married filing Separately) of cash donations to 501(c)3 organizations even if you do not itemize your deductions.

 

In order to take this above-the-line deduction, enter your donation(s) under Deductions &Credits > Charitable Donations > Donations to Charities in 2020.  TurboTax will enter the donation as a deduction on your tax return if you do not itemize your deductions.

 

On your form 1040, this deduction is on line 10b - Charitable contributions if you take the standard deduction.