Deductions & credits

Sorry, @MarilynG1, but you misread my question. I wasn't asking what the contribution rules were. There's no information in the Charitable Donations link you sent that answers my question.

 

I was asking why TurboTax was asking for the cost basis and date of acquisition for gifts of publicly traded stocks. As long as the stock is held for at least 12 months and gifted directly to the charity, there is no computation of capital gains. Therefore, there is no need for knowing the cost basis. Delete that question.

 

The date of acquisition is only necessary to see if the stock had been held for 12 months, so why couldn't TurboTax have a question in EasyStep that asks if you've held the stock for 12 months or longer?