Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I was recently alerted to a provision in the Stimulus Legislation that will allow an above the line deduction of up to $300 even for 2020 filers who do not itemize. Great! That will save me a few bucks.

What I'm confused about is whether this is a one year provision or will continue to be available beyond 2020 tax year. The charitable organization that first brought it to my attention seemed to say it was only for one year. Of course, in their illustration they used the 2019 standard deduction instead of the higher 2020 deduction so I know they aren't tax experts. Since then I've read comments that suggest the $300 above the line charity deduction extends to future years.

Anyone know the true story?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.