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Charitable Contributions

BobW76
Level 1

My reading of the current tax law is that an individual is entitled to an above the line deduction of $300 deduction and a married couple is entitled to a $600 above the line deduction yet when I put the $600 in the software rejects it. Who is right?

 

Bob

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3 Replies 3
TaxGuyBill
Level 15

The law for 2020 says $300, even for joint returns.

The law for 2021 says $300 for Single and $600 for Joint.

Just-Lisa-Now-
Level 15
Level 15

Current law, for 2021, that is true.  For 2020, the max is $300.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
IRonMaN
Level 15

Your reading is correct since it is 2021 and the current tax law for 2021 is $600.  However, the software is dealing with old tax law which was $300.  Congratulations - you are both correct!


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