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What size wire for a 20 amp 240 volt circuit?

Short answer
12 AWG copper

A 20 A circuit at 240 V takes 12 AWG copper wire on a 20 A breaker, as long as the run stays under 113 ft.

Wire size
12 AWG
Copper
Breaker
20 A
Longest run
113 ft
Longest run at 3% drop

Why 12 AWG

How far you can run it

Past a certain length the wire still carries the current safely, but too much voltage is lost on the way. These are the lengths where you should move up a size.

Wire size Longest run at 3% drop
12 AWG 113 ft
10 AWG 180 ft
8 AWG 286 ft
6 AWG 455 ft
4 AWG 724 ft

One-way distance, copper, 240 V.

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