Cash donations of up to $300 made before December 31, 2020, are now deductible when filing taxes in 2021 even when using the Standard Deduction.
Under this new tax law change, this is now an "above-the-line" deduction for up to $300 in cash donations made to qualifying tax-exempt organizations during 2020. The deduction lowers both adjusted gross income and taxable income – translating into tax savings.
Cash donations include those made by check, credit card or debit card. They do not include securities, household items or other property. Be sure to obtain a receipt or acknowledgement letter from the charity before filing a return and retain the cancelled check or credit card receipt to keep with your tax return documents.