Standard Deduction: For people who take the standard deduction, the CARES ACT allows you to take a tax deduction for contributions made to qualified charitable entities up to $300 per year starting in 2020 – this deduction is “above-the-line.” The 2020 Standard deduction is $12,400 for individuals and $24,800 for married couples filing jointly, therefore any donation to qualifying charities of up to $300 will be added to the standard rate of deduction. This deduction is here for 2020...| TESSA of Colorado Springs