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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
Other answers from the TurboTax community seem to imply this is acceptable but it seems like the IRS would see this as "double-dipping". TurboTax provides a warning to avoid incorrectly categorizing the donation twice (see screen shot). The organization is a Scholarship Granting Organization recognized in Alabama as a 501(c)(3) with one-for-one credit on state taxes.
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
Sorry quick edit, when you complete the Alabama state tax return, some of the charitable donations deductions are not transferred, but the scholarships are, from the federal return so they allow you take a credit for any qualified contributions. You would only add these specific contributions if you did not itemize on your federal tax return.
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
Assuming that I can't do both (federal deduction AND stat credit), wouldn't it be more advantageous for me to claim it as a one-for-one CREDIT?
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
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Can I record my donation to a state 501(c)(3) organization as both a deduction on my Federal tax return AND a credit on my Alabama state tax return?
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