Non-itemizers (those taking the standard deduction) may deduct up to $300 of cash gifts to publicly supported charities (other than Donor Advised Funds and Supporting Organizations). This is for 2020 only.

Tax “experts” disagreed whether $600 could be deducted on a joint return. And the answer is: only up to $300 on a joint return. The staff of the Congressional Joint Committee on Taxation in its 108-page “Description of the Tax Provisions of the CARES Act” (page 21, footnote 76) states the deduction is limited to $300 on a joint return. The staff reports are often described as “The Blue Book.” Back in the dark ages, the printed copies had blue covers; hence the name.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]