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Get your taxes done using TurboTax
No the deduction rules remain the same.
- When you enter the contribution in TurboTax, you should choose the Stock option in the list you will see.
- You will then be asked to enter the date of the donation, stock symbol, value at date of the donation, date you acquired it and cost basis of the shares. Make sure the date you acquired it is more than one year from the date of the donation.
- You will receive a 30% of adjusted gross income deduction for contribution of appreciated securities held long-term. Any unused deduction can be carried over to future years.
- This tells the IRS and Turbo Tax that this is a Donor Advised Fund contribution.
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‎April 12, 2022
5:49 PM