$300 Charitable AGI Adjustment

[RWG1950]

I had understood that a return could have a $300 charitable AGI adjustment and also itemize their
charitable contributions - just not using the same money for both.
My software's update today tells me I can't use both.
If this is true, wouldn't it put a taxpayer that itemizes having only $300 in charitable at a
disadvantage to the same $300 non-itemizer due to to the AGI difference ?
Thanks for comments.

[rbynaker]

The CARES Act was quite clear on this one. IRC 62(f)(1): "The term ‘eligible individual' means any individual who does not elect to itemize deductions."

[Lion]

If you do NOT itemize, you can take as much as $300 in "cash" donations as an adjustment. If you DO itemize, you take ALL your donations, including non-cash, on Schedule A. And, as rbynaker says, it is an election, so run the numbers to do the best for your clients.

[RWG1950]

When I read your replies to my post, I thought you two must have missed my point.
Turns out it was me that was missing the point.
Thanks for your replies.

[Lion]

And, to keep us on our toes, 2021 is $300 per person, so $600 MFJ. Unless it's "clarified" again!

[New York Enrolled Agent]

And, to keep us on our toes, 2021 is $300 per person, so $600 MFJ. Unless it's "clarified" again!

One other thing to keep you on your toes - in 2020, the $300 deduction is above-the-line. In 2021, the $300($600) is below-the-line