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New Charitable Contribution Rules

You are here: Home / Uncategorized / New Charitable Contribution Rules
Series for United States Tax season, with 1040 forms, etc.

November 23, 2020 //  by Kyle//  Leave a Comment

In 2020, as part of the CARES Act, Congress changed the rules and added an up to $300.00 deduction for those taxpayers that don’t itemize but make charitable contributions.

This is only applies to Charitable Contributions made in 2020 and only those contributions made in cash. Non-cash contributions won’t qualify for this deduction.

This makes it the perfect time to make a year-end charitable contribution even if you don’t itemize.

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