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Get your taxes done using TurboTax
Thank for responding, and yes I am using TurboTax Desktop.
I still have questions. Yes, I think the carryover amount is the issue. But no, it's not identical to my 2024 contribution. Those are two different values.
In the Carryover Worksheet, line 26 is:
(a) (b) (c) (d) (e)
blank blank 4820. blank 0.
In other words, only cell (c), 30% Capital Gain, has a value.
And yes, if I put something in field (a), it changes my deductions and my eventual tax due. But how am I supposed to know what to put there? TurboTax is importing those from my previous years TurboTax files. And I don't have any Other Property carryover, so that field is blank, which is correct.
For Schedule A, TurboTax is computing a value for each of line 12 and line 13, and adding those to line 11 to give my total charitable contributions. But that total is more than 50% of my AGI (and I am in the 50% case, not the 60% case), but TurboTax is not limiting my total contributions to 50% of AGI. I think that is incorrect.