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Level 1

Question

Wrong valuation method for stock donation

1 reply
67 views

I donated publicly traded stock to charity. If I select "Stock, publicly traded" on "Charitable Contribution Detail worksheet", then line 4 for "Method used to determine the fair market value" is filled in with "Comparative sales." This is incorrect. The IRS requires Average Share Price. As a work-around, I can select Securities other than stock and select the proper setting, but I would prefer this be fixed. I believe this has been incorrect for several years in TurboTax.

Level 2

I agree with you. What's more, however, is why would this change be made after selecting "average share price" without giving you an error message of some sort? I only discovered it when reviewing my full return.

You can manually correct it on the back end by going to "Forms" in the upper right-hand corner of your screen.