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Level 3
posted Feb 11, 2023 4:34:02 PM

Charitable cash donations should be deductible up to 60% AGI, but TT is limiting to 50%

Using TT Deluxe 2022. It is limiting cash charitable contributions to only 50% of AGI, but this should be deductible up to 60% of AGI. TT has a place to designate each charitable organization as a "50%/60%" charity, but then is limiting these cash donations to the lower limit when the higher limit should apply. How can I get around this?

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1 Best answer
Expert Alumni
Feb 12, 2023 6:46:50 AM

You don't say whether you are using TurboTax Deluxe Online or CD/Download, but when I enter a cash contribution in either program, I get the correct 60% limit.

 

Double-check that you entered your contribution as Money.

 

2 Replies
Expert Alumni
Feb 12, 2023 6:46:50 AM

You don't say whether you are using TurboTax Deluxe Online or CD/Download, but when I enter a cash contribution in either program, I get the correct 60% limit.

 

Double-check that you entered your contribution as Money.

 

Level 3
Feb 13, 2023 8:52:53 AM

Good news – the actual final TT result is correct. What I was worried about was that the 'Charity Limit 1' form puts my cash contributions on line 7 (cash contributions to 50% limit organizations) rather than on line 1 (cash contributions to 60% limit organizations). But then line 9 somehow properly applies the 60% rate. This is confusing, but the actual calculations are correct. So you can close this request.