ST Alpha - "2021 reminder: Special tax deduction helps most people give up to $600 to charity, even if they don’t itemize ($300 if single or filing separately) -- (link*)" (Reading a Post)

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2021 reminder: Special tax deduction helps most people give up to $600 to charity, even if they don’t itemize ($300 if single or filing separately) -- (link*)

Posted by ty97 Dec 14 '21, 08:35

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https://www.irs.gov/newsroom/year-end-giving-reminder-special-tax-deduction-helps-most-people-give-up-to-600-to-charity-even-if-they-dont-itemize (www.irs.gov)

Responses:

Ooh. Forgot about that. *updates his spreadsheet* -- nm - znufrii, boosted Dec 14, 08:50 9
- Do you even need a spreadsheet if you aren't itemizing?! -- nm - ty97 Dec 14, 08:51 8
  - It maps out our entire tax picture for the year, not just deductions. -- nm - znufrii, boosted Dec 14, 08:53 7
    - I haven't even done my first mockup for the year yet. Too many fund like to distribute dividends and cap gains at year end. -- nm - ty97 Dec 14, 08:54 6
      - Many of them have released their estimates so you could spreadsheet based on that -- nm - decline Dec 14, 09:26 2
        
        I ain't looking up all those funds individually! -- nm - ty97 Dec 14, 09:32 1
        
        (plus I don't even know where they list these estimates) -- nm - ty97 Dec 14, 09:51
      - I don’t have a lot of brokerage exposure, most everything is in tax-advantaged accounts. -- (edited) - znufrii, boosted Dec 14, 09:18
      - Exactly! I don't even try to calculate income. Just wait for the 1099s and hope I've paid enough :/ -- nm - Meg Dec 14, 08:56 1
        
        I'll look after 12/31 because I can estimate the 1099s once the year ends in order to make a mock-up -- nm - ty97 Dec 14, 08:57
"Nearly nine in 10 taxpayers now take the standard deduction" That stat amazes me -- nm - ty97 Dec 14, 08:39 3
- That was the whole point of the changes in TCJA - spamlet Dec 14, 08:50 1
  - I'll disagree that it was the whole point (or even the primary point) but I knew it had that effect...just didn't realize the degree. -- nm - ty97 Dec 14, 08:51
- That's me in recent years. And charitable donations are tax free from my IRA. -- nm - Meg Dec 14, 08:44

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