CARES Act Charitable Contribution

[Dog]

Sanity check.

DH is taking care of finances for his parents that are in Assisted Living. They typically file 1040 SR without deductions.
However, this year they will be able to deduct a portion of their donations. I had read $300 for singles and $600 for married filing jointly. I checked IRS site and see that it is a maximum of $300 regardless If filing single or jointly-married. Anyone have a different understanding? The IRS instructions on 1040 are below:


“Enter the total amount of your contri- butions on line 10b. Don't enter more than:
• A capital loss carryover 2019;
• A gain from Form 2439 or 6252 or Part I of Form 4797;
• $300 if single, head of household, or qualifying widow(er);
• A gain or loss from a partnership, S corporation, estate, or trust; or
• $300 if married filing jointly; or • $150 if married filing separately.”

 

[RunningBum]

Sanity check.

DH is taking care of finances for his parents that are in Assisted Living. They typically file 1040 SR without deductions.
However, this year they will be able to deduct a portion of their donations. I had read $300 for singles and $600 for married filing jointly. I checked IRS site and see that it is a maximum of $300 regardless If filing single or jointly-married. Anyone have a different understanding? The IRS instructions on 1040 are below:


“Enter the total amount of your contri- butions on line 10b. Don't enter more than:
• A capital loss carryover 2019;
• A gain from Form 2439 or 6252 or Part I of Form 4797;
• $300 if single, head of household, or qualifying widow(er);
• A gain or loss from a partnership, S corporation, estate, or trust; or
• $300 if married filing jointly; or • $150 if married filing separately.”

That's not what I see at https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf :

Line 10b If you don't itemize deductions on Schedule A (Form 1040), you (or you and your spouse if filing jointly) may be able to take a charitable deduction for cash contributions made in 2020.

Enter the total amount of your contributions on line 10b. Don't enter more than:
• $300 if single, head of household, or qualifying widow(er);
• $300 if married filing jointly; or
• $150 if married filing separately.

The capital loss carryover doesn't make sense to be here since it is handled on line 7 through Schedule D. I don't know what the other thing is.

What is your source for what you posted?

What does look clear is the $300 limit, whether single or married.

 

[audreyh1]

$300 max.

 

[Dog]

That's not what I see at https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf :

The capital loss carryover doesn't make sense to be here since it is handled on line 7 through Schedule D. I don't know what the other thing is.

What is your source for what you posted?

What does look clear is the $300 limit, whether single or married.

I’m not sure how that got carried over in the the copy & paste. I read the same as what you shared.

Thanks for the sanity check. They donate more than $300, but I just wanted to verify understanding.