Skip to main content
Level 5
January 19, 2021
Solved

$300 charitable deduction

  • January 19, 2021
  • 1 reply
  • 20 views

Can the $300 charitable deduction for 2020 be taken if the donation was entirely QCD?

This topic has been closed for replies.
Best answer by qbteachmt

That is a different type of donation and event. QCD means they don't have to report it as income. The above-the-line deduction means they get a deduction against what is reported as income. You can't take both, for that same $300.

1 reply

qbteachmt
qbteachmtAnswer
Level 15
January 19, 2021

That is a different type of donation and event. QCD means they don't have to report it as income. The above-the-line deduction means they get a deduction against what is reported as income. You can't take both, for that same $300.

Don't yell at us; we're volunteers