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Cash donation limits?

Am still having trouble reconciling why TurboTax is not allowing all of my cash donations.  There's plenty of publications to read, but none of them explains my problem.  My wife and I are filing a joint itemized return.  This year is different from most years in that our Adjusted Gross Income is around 75,000 and we have cash donations of around 40,000.  TurboTax is allowing only 12,000 in cash donations.  One of our cash donations was to a church for 24,000 (all by itself = just one check).  In effect, TurboTax is denying roughly 29,000 of our cash donations.  We can't afford to let this drop.  We need to get it fixed or understand exactly what's going on.  None of the publications have helped.  Do I have to go directly to someone at TurboTax?  Am I going to get charged money to have someone at TurboTax explain/fix this?

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1 Reply

Cash donation limits?

@Cruzer1943 

 

I didn't have an issue getting a full amount of 40,000 to be used on the Sched A.  Cash $25,000 to one and $15,000 to another.  With a 75,000 AGI.

__________________

Two things to check:

1)  Examine your form 1040/1040-SR and make sure your expected ~$75,000 AGI is on line 11.  IF it's much lower, then the deduction may be limited because your donations exceeded 60% of AGI. 

(or maybe you mis-entered some of your income, so that your AGI is lower than you expected.  If you are retired, the $$ amount of your Social Security included in AGI may be lower than you expected too.)

 

2)   After moving on from the table of charities, there is a question about the ones you donated to...

"Are any of the charities you donated to a fraternal society, veterans' organization, nonprofit cemetery, or private foundation?"    Along with a series of checkboxes

 

Checking YES to any of them, can very well limit your cash deduction allowed for the ones you said Yes to.  The church donation should not be labelled a YES....but i don't know who else you donated to.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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