Skip to main content
Level 1
February 16, 2021
Question

$300 charitable donations

  • February 16, 2021
  • 2 replies
  • 21 views

I'm having a hard time finding out what qualities as a deductible charitable donation.  Does anyone else have any information on this?  The IRS Tool is not yielding any results.  

 

This topic has been closed for replies.

2 replies

Just-Lisa-Now-
Intuit Community Champion
February 16, 2021

Cash contributions (cash, check, charge) donated to a non profit.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
Level 15
February 16, 2021

"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.

Before making a donation, the IRS reminds people they can check the special Tax Exempt Organization Search (TEOS) tool on IRS.gov to make sure the organization is eligible for tax-deductible donations.

Cash donations include those made by check, credit card or debit card. They don't include securities, household items or other property. Though cash contributions to most charitable organizations qualify, some do not. Check Publication 526, Charitable Contributions, and the TEOS for more information.

Though cash contributions to most charitable organizations qualify, those made to supporting organizations and donor-advised funds do not."

 

From: https://www.irs.gov/newsroom/special-300-tax-deduction-helps-most-people-give-to-charity-this-year-even-if-they-dont-itemize

 

Don't yell at us; we're volunteers