I have a question about deductible charitable contributions on my tax return. If I take the standard deduction do I have itemize my donation deductions?
No, if you take the standard deduction you do not need to itemize your donation deduction. However, if you want your deductible charitable contributions you must itemize your donation deduction on Form 1040, Schedule A: Itemized Deductions.
It is important to know that you are choosing between taking the standard deduction and itemizing your donation deductions on Form 1040, Schedule A. You cannot do both. You will have to determine which deduction gives you the lower tax.
The standard deduction is a dollar amount that reduces your taxable income. It is a benefit that eliminates the need to itemize your deductions. Your standard deduction is based on number of factors including your filing status. Most people benefit from the standard deduction when your standard deduction is greater than the amount of your itemized deductions.
Related Resources
Here are the top tax questions our professionals got this year – with answers for you! How can you use this? Read on to get answers from H&R Block.
If you need help handling an estate, we're here to help. Learn how to file taxes for a deceased loved one with H&R Block.
Expats are subject to recent changes under the Tax Cuts and Jobs Act much like any other taxpayer. Read on to learn more about how to prepare in the Tax Information Center.
An ITIN is issued by the IRS to help people file taxes without a Social Security number. Learn how to get an ITIN number, who qualifies, and where to apply.
