Deductions & credits

Renee, please refer to my original request and Cynthia's reply. Your response is in regard to the $300 credit which is available if using the standard deduction--which we are not doing. The $300 has not come up as an option in Turbo tax when I have entered my Charitable Donations.  We still have the question about why the total amount being claimed as a Charitable Donation is not being fully applied. On a preview copy of the completed forms, on Schedule A, Line 14 the word "limited" is printed. The total amount claimed on Lines 11 and 12 do not add up to what shows up on Line 14. The total amount of Charitable Donations being claimed is roughly 1/3rd of AGI. The primary donation was a stock transfer to a Charitable Foundation. We did a similar transfer in 2019 and the complete amount was applied to Schedule A. Please advise if the IRS is still working on updates for 2020 as Cynthia described above. Thanks.

 

Larry S1