Answered

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Parvati is a single taxpayer. Her AGI is $74,098, she does not own a home, and she contributed the following charitable donations to qualified charitable organizations:
04/01/20 $250 04/16/20 $50 05/20/20 $350
What amount can she deduct on her 2020 tax return?
a) $0
b) $650
c) $350
d) $300

Sagot :

Answer: $300

Explanation:

According to the Coronavirus Aid, Relief, and Economic Security (CARES Act), individual taxpayers can claim about $300 deduction in taxes as charitable donations.

Therefore, it should be noted that despite the standard deduction that Parvati has to pay, she would still have to pay $300 which would be deducted on her 2020 tax return.

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