Take a Charitable Cash Deduction Without Taking Itemized Deductions - Learn How.
Updated: Jan 18, 2021
How the CARES Act Changes Deducting Charitable Contributions
Previously, charitable contributions could only be deducted if taxpayers itemized their deductions.
However, taxpayers who don’t itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations. For the purposes of this deduction, qualifying organizations are those that are:
Religious
Charitable
Educational
Scientific or
Literary
The law changed in this area due to the Coronavirus Aid, Relief, and Economic Security Act.
The CARES Act also suspends limits on charitable contributions and temporarily increases limits on contributions of food inventory.
More information about these changes is available on IRS.gov.
Links to help with Charitable Donations:
Tax Exempt Organization Search
Publication 526, Charitable Contributions
Publication 561, Determining the Value of Donated Property
Form 8283, Noncash Charitable Contributions
Schedule A, Itemized Deductions
Frequently asked questions: Qualified charitable distributions
Tax Topic 506, Charitable Contributions