If you don't itemize your deductions on Schedule A (Form 1040), you may qualify to take a deduction for charitable contributions of up to $300. Beginning in 2020, Form 1040-NR will use Schedules 1, 2, and 3.Ĭharitable contributions. Form 1040-NR has been revised to more closely follow the format of Forms 10-SR. 590-B and 575 for details.įorm 1040-NR revision. If you were impacted by certain federally declared disasters, special rules may apply to distributions from your IRA, profit-sharing plan, or retirement plan. For more information, see the instructions for Schedule 1 (Form 1040), line 10, and Educator Expenses in Pub. For more information, see the instructions for Forms 10-SR, line 28, and the Instructions for Schedule 8812 for more information on this election.Įducator expenses include amounts paid or incurred after March 12, 2020, for personal protective equipment, disinfectant, and other supplies used for the prevention of the spread of coronavirus. For more information, see the instructions for Forms 10-SR, line 27, for more information on this election.Įlection to use your 2019 earned income to figure your 2020 additional child tax credit. Recent legislation provided certain tax-related benefits, including the following.Įlection to use your 2019 earned income to figure your 2020 earned income credit. For more information, see the instructions for Forms 10-SR, line 30, and the Recovery Rebate Credit Worksheet to figure your credit amount. This credit is figured like last year's economic impact payment, except eligibility and the amount of the credit are based on your tax year 2020 information. Any economic impact payments you received are not taxable for federal income tax purposes, but they reduce your recovery rebate credit. See chapter 1.Įconomic impact payments-EIP 1 and EIP 2. Please see 2020 Publication 17 changes, later.ĭue date of return. You can find most of the information previously found in those chapters in the primary publication. For the latest information about the tax law topics covered in this publication, such as legislation enacted after it was published, go to IRS.gov/Pub17. Most of these changes are discussed in more detail throughout this publication.įuture developments.
This section summarizes important tax changes that took effect in 2020.
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