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Submitted By: someone
Answered: July 15, 2020 11:21 pm
Answered: July 15, 2020 11:21 pm
Where on the 2019 return does the $300 charitable contribution deduction for nonitemizers get reported?
There is no such deduction allowed for 2019 returns. The $300 limit on charitable contributions by individuals using the standard deduction is allowable only for 2020 returns (unless Congress extends it).
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Tax Glossary
Accelerated cost recovery system (ACRS)
A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.
