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The New Charitable Deduction for Standard Deduction Taxpayers Thumbnail

The New Charitable Deduction for Standard Deduction Taxpayers

Historically, the charitable donation tax deduction was only available as a below-the-line itemized deduction, and standard deduction takers weren't able to deduct their charitable donations. But if you made charitable contributions in 2020 and plan on taking the standard deduction on your 2020 tax return, read on – you may be eligible for a small above-the-line deduction.

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