I received a K-1 for a 2023 Pennsylvania Education Improvement Tax Credit (EITC) payment ($1000) I made to a PA Foundation and entered the information in the K-1 section of my 2023 Federal tax return. Turbo Tax correctly recognized 90% of the contribution ($900) as a tax credit on my PA State return, but treated 100% of my EITC payment ($1000) as a Gift to Charity on my Federal return. As I understand the Federal Tax Code and instructed by the Foundation receiving the contribution, only 10% of the contribution (the amount the state doesn't allow for the credit) is allowed by the IRS as Federal Charitable deduction. I tried accessing the detail Charitable Contributions Federal Tax Form on my return and adjust the deduction from $1,000 to $100, but found the total contribution amount ($1000) is automatically transferred from the K-1 to the Federal Charitable Contribution worksheet and will not allow an adjustment to the amount. As result, the Charitable Deductions on my Federal Return are overstated by $900. How do I correct the amount I am reporting as a Gift to Charity deduction on my Federal return?
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@DR2003 are you taking the standard deduction? if so, it doesn't matter - let it go.
I itemized deductions.
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