bcaveney1
New Member

Deductions & credits

It is a long term holding, and is well below 30% of my AGI.  Why would it be reduced to cost basis only?  Every other website I search from reputable sources suggests that I should be able to deduct the full fair market value of the stock on the date of the donation.  Why is TurboTax only giving me credit for cost basis?  How do I correct this error in my return?  Please cite the IRS Tax Code statute that TurboTax is using to reduce my charitable deduction. 

https://www.forbes.com/sites/brucebrumberg/2020/12/01/stock-donations-7-essentials-to-maximize-your-... 

https://www.schwabcharitable.org/non-cash-assets/public-traded-securities 

https://www.investopedia.com/ask/answers/07/donatestock.asp 

https://www.shakespearewm.com/blog/donating-appreciated-stock-vs-using-a-qualified-charitable-distri... 

https://www.rbcwm-usa.com/resources/file-687728.pdf 

https://www.fidelitycharitable.org/articles/4-reasons-to-donate-stock-to-charity.html#:~:text=You%20...

https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-stock-to-charity.html...