Since you mention your deduction is limited to $3,000, I believe you may be referring to a capital loss deduction, not a charitable contribution deduction. The net capital loss deduction is limited to $3,000 per year, there is not a similar limitation on charitable contributions. Charitable contributions are limited to a percentage of your adjusted gross income, typically 60%. I suggest you look on line 7 of your Form 1040 to see if the $3,000 capital loss limit is listed there.
To view your form 1040 and schedule 1 to 3:
- Choose Tax Tools from your left menu bar in TurboTax Online
- Choose Tools
- Choose View Tax Summary
- See the Preview my 1040 option in the left menu bar and click on it
- Choose the Back option in the left menu bar when you are done
Line 11 would list your adjusted gross income, your charitable contributions would typically be limited to 60% of that amount in 2024.
You can learn more about charitable contributions in this IRS article.
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