You need some patience to find the right place in TurboTax for the $300 charity donation deduction under the CARES Act when you take the standard deduction.
Congress passed a new stimulus bill before the Christmas weekend. Although President Trump wanted to raise the second stimulus check from $600 per person to $2,000 per person, he still signed the bill into law. Unlike the previous stimulus law — the CARES Act — this new law doesn’t have a catchy name. The law […]
CARES Act created a new above-the-line tax deduction for those who take the standard deduction. Is it ongoing or is it only for 2020?
The IRS Form 1040 instructions clarified the new CARES Act charitable contributions deduction for married filing jointly.