There is a temporary Suspension of Limits on Charitable Contributions. Individuals may deduct qualified contributions of up to 100 percent of their adjusted gross income.
Instead of the full 100% being allowed, some TurboTax customers are incorrectly being limited to 60% on their charitable cash contributions that meet the outlined criteria from the IRS.
Follow these steps to resolve the issue:
- Open or continue your return.
- Select Personal (or Federal) and then Deductions & Credits.
- Scroll down to Charitable Donations and next to Donations to Charity in 2020, select Update/Edit/Revisit.
- On the Review All Your Charities screen, select Done with Charitable Donations.
- Select Yes on the Donation Limits screen.
- Select 100%/50% Charity on all applicable donations and Continue until completed for each donation.
- Once complete, line 14 of Schedule A will reflect the appropriate deduction amount. Why are my charitable cash contributions being limited?
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