Hi,
NO ONE appears to have answered this question satisfactorily. The fact of the matter is that, according to IRS rules, Full Market Value is deductible for stocks donated with only Long-Term Gains and there should be NO NEED to enter Cost Basis for these donations. We are considering such donations for the first time this year (2022 donations to a Donor-Directed Fund, to be distributed at a later time) so we have not done this before. and would appreciate a straight answer. As best as I can figure out from this thread, TurboTax INCORRECTLY requires Cost Basis to be entered for donated stocks with ONLY Long-Term gains.
Can someone who really understands this confirm that TurboTax treats these donations correction OR that TurbTax intends to correct this issue?|
Thanks,
dkvonr
