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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
Home equity debt
Debt secured by a principal residence or second home to the extent of the excess of fair market value over acquisition debt. An interest deduction is generally allowed for home equity debt up to $100,000 ($50,000 if married filing separately).
