The CARES Act and Charitable Giving

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How the CARES Act changes how you deduct charitable contributions made in 2020:

Previously, charitable contributions could only be deducted if taxpayers itemized their deductions.

However, taxpayers who don’t itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations. For the purposes of this deduction, qualifying organizations are those that are religious, charitable, educational, scientific or literary in purpose.

  • The law changed in this area due to the Coronavirus Aid, Relief, and Economic Security Act.
  • The CARES Act also temporarily suspends limits on charitable contributions and temporarily increases limits on contributions of food inventory.

Complete information about these changes is available on IRS.gov.

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