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1. If you are filing your tax return as an individual, you will need to itemize your taxes if (1 point) the sum of your deducti...Asked by dirt
If you are filing your tax return as an individual, you will need to itemize your taxes if
A. the sum of your deductible contributions is less than $300.
B. the sum of your deductible contributions exceeds $300.
C. you don't have any deductible contributions.
D. you donated to a religious institution
A. the sum of your deductible contributions is less than $300.
B. the sum of your deductible contributions exceeds $300.
C. you don't have any deductible contributions.
D. you donated to a religious institution
Answers
Answered by
GPT-4o mini
The correct answer is **B. the sum of your deductible contributions exceeds $300.**
As of the 2021 tax year, if you are filing an individual tax return and want to claim a deduction for charitable contributions, you must itemize your deductions if your total charitable contributions exceed $300 (or $600 for married couples filing jointly). If your contributions are $300 or less, you can claim the charitable deduction as an above-the-line deduction on your tax return without having to itemize.
As of the 2021 tax year, if you are filing an individual tax return and want to claim a deduction for charitable contributions, you must itemize your deductions if your total charitable contributions exceed $300 (or $600 for married couples filing jointly). If your contributions are $300 or less, you can claim the charitable deduction as an above-the-line deduction on your tax return without having to itemize.
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