For 2020 and I suspect 2021 Turbo Tax may calculate an incorrect Charitable Deduction Limit when one has a combination of cash and capital gains (stock) gifts to qualified organisations. The error appears to be in IRS' worksheet. Based on my 2020 return, the issue is as follows.
Assume that my AGI is $100 and I donate $50 in cash and $20 in stock. TurboTax and the IRS Worksheet 2 (Applying the deduction limit in Publication 526) would say that I could deduct $70 from my income. Unfortunately that is not what the IRS says. The IRS says I can deduct only $60 since the stock contribution is limited to 60% of my AGI. I have gone round and round with the IRS on this but that's what their computer calculates even if I get a different number from their worksheet.
