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Dondrd
Returning Member

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

 
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5 Replies

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

Neither line 15 of the 1040 or the Sch A have to do with 60% of the donation deduction ... what is your real question ?

Dondrd
Returning Member

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

The past two years, IRS has corrected 1040 line 15 for they state "changed the amount claimed as total gifts to charity on your schedule A, itemized deductions, because it was figured incorrectly. or the amount was not limited based on your adjusted gross income". The amount of line 1040 -15 is "0" on the return. 

Reason I suggested 60% calculation for donations was that I noticed that there is a comment on Turbo Tax schedule A line 14 that has word "limited" printed. I thought I was to multiply this amount by the 60% and place it is 1040 line 15. It seems like the line is restricted to the calculation.

 

Thanks for the help.

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

@Dondrd - sounds you are doing this manually

 

for 2020 and 2021, you could take an adjustment to income for CASH contributions if you were taking the STANDARD deduction.  It's limited to $300 in 2020 per tax return and $300 per tax payer (so max $600) in 2021. It would appear on line 10b in 2020 and line 12b in 2021 tax return. 

 

if you ITEMIZE, then the cash contributions noted above  are simply deducted as part of Schedule A. Line 10b in 2020 and line 12b in 2021 are zero by definition. 

 

does that help? 

Dondrd
Returning Member

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

Not the issue - On 1040 line 15 it has to "Taxable Income: Subtract line 14 from line 11" the result is zero for line 11 is less than line 14. Based on the IRS computer results, line 14 (which comes from schedule A) should be less than the amount on 1040 line 11 (adjusted gross income). According to the IRS computer calculated results, it  agrees with the Adjusted gross income amount on the tax form, it seems that the Schedule A needs to be limited in the amount. 

 

If there is a limitation for Schedule A amount, why does the tax program calculate it?

Can I modify line1040 - line 15? The donation calculation is incorrect and I cannot modify the amount to show the 60%.

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