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Other financial discussions
PattiF provided great steps for how to enter stock donations in TurboTax, I have copies her response here for easy review:
Follow these instructions to enter the Stock donation. Please see the screenshots for details.
- When you enter the contribution in TurboTax, you should choose the Stock option in the list you will see.
- You will then be asked to enter the date of the donation, stock symbol, value at the date of the donation, the date you acquired it, and cost basis of the shares. Make sure the date you acquired it is more than one year from the date of the donation.
- You will receive a 30% of adjusted gross income deduction for the contribution of appreciated securities held long-term. Any unused deduction can be carried over to future years.
- This tells the IRS and Turbo Tax that this is a Donor Advised Fund contribution.
For more information see the link below:
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March 29, 2025
3:13 PM