Thanks for the Bonus, I Quit

Re:Thanks for the Bonus, I Quit by dlp211 on Saturday April 17, 2021 @10:06PM (#26849192)

Charity is an above the line deduction.

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Re:Thanks for the Bonus, I Quit by Thorrez on Sunday April 18, 2021 @01:39AM (#26850068)

No it's not. $300 can be an above-the-line deduction. Any donation beyond that is below the line.

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Re:Thanks for the Bonus, I Quit by astrange on Saturday April 17, 2021 @11:15PM (#26849543)

It wasn't last year, now it is again, so people might've missed it. I thought you could only deduct $300 though.

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Re:Thanks for the Bonus, I Quit by Thorrez on Sunday April 18, 2021 @01:44AM (#26850087)

Yes, it's limited to $300. So it's not very useful for people significantly more than that but still below the standard deduction.

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Re:Thanks for the Bonus, I Quit by dboreham on Saturday April 17, 2021 @11:32PM (#26849608)

Are you talking about California state tax? The $300 thing doesn't jive with my federal tax spreadsheet..

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Re:Thanks for the Bonus, I Quit by Thorrez on Sunday April 18, 2021 @01:40AM (#26850071)

No, we're talking federally. There's a $300 federal above-the-line charitable deduction. Everything after that is below the line.

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