Hi Dave, I apologize, I am trying to understand your statement above that cost basis of a stock donated to charity matters. In the user case above, they are donating a stock held more than one year to a valid IRS charity.
Here how turbo tax works with this situation: TT asks for the donated value, the date given, the date the stock was purchased and the cost basis. If you make the donated value and the cost value the same, you get a much bigger refund. If you make the cost basis at least one dollar lower than the donated value you get a much lower Federal refund. MY understanding is that the cost basis of a stock donated to charity does not matter and TT should not be giving different refund amounts in these two situations. Do you agree? or disagree? thank-you!
