@thomaswreese Answer Yes to the question "Were any of your donations to a fraternal . . . or other 30% charity?"
Ignore the answer about $300 in the error check. It has nothing to do with your question.
I have reported your post to TurboTax Moderators. May I ask if you're using TurboTax Online or the Desktop (CD/Download) Edition? And, if you don't mind, would you please post a screenshot (without any personal info)?
Thank you in advance.
The 100% limit is for cash donations. Is the donor including non-cash donations?
@thomaswreese Please see the post by Champ @Bsch4477 . Is this possibly the issue you're reporting? The 100% refers only to cash donations.
Yes I have a lot of cash donations to main charities, not to a donor advised fund. But TT2020 is capping them at 60% of AGI. Is this a software error? I need a way to remove this block.
I am using TurboTax Deluxe 2020 download for Mac. I have stock donation to donor advised fund which is properly capped at 30% of AGI, then cash donations direct to main charities (not donor advised fund) of more than 60% AGI. But TT shows Charity Contrib form with all the cash contributions in the 60% limit column (b), with none in the 100% limit column (d). As a result, TT is not allowing all my cash contributions to be deductible. The 2020 CARES act allows deducting cash contributions not to a donor-advised fund up to 100% of AGI, less the 30% stock donations which are to a donor-advised fund.
This is a known software issue. The workaround is to delete the $300 in the error check. Then go back to Deductions & Credits and enter the contribution there, in the Donations to Charity topic. Then click Done with Donations and proceed through the screens until you get to the screen that tells you that TurboTax has added in the contribution.
Did you enter your contributions in the interview or in forms mode?
Please go back to the "Donations to Charity" topic in the Step-by-Step interview, not in forms mode. On the "Review All Your Charities" screen click Continue. Then proceed through the questions in sequence. It will ask you to specify the type of charity for each charity that you entered. If you have gone through this part of the interview before, you may find that it does not remember your previous answers. Please make sure that the correct type is selected for each charity. In particular, make sure that 100%/50% is selected for each of the "main charities" that you donated cash to. When you get back to the summary screen "Your 2020 Deductions & Credits" see if the contributions are now allocated properly.
In TT Deluxe 2020 Mac download, I click the Deductions & Credits tab, then click to Update the Donations to Charity 2020 line under Charitable Donations. It lists each charity; when I click to Edit TT only asks me to change the amount of the donation but the amounts are already correct. After checking the amount for each of the charities, TT asks one question: "Were any of your donations to a fraternal . . . or other 30% charity?" The answer to this is No, so I click on the "No" button. Then TT dumps me right back out to the "Your 2020 Deductions & Credits" page again. There is no way that I can see to tell TT that each of these charities I have donated cash to is in the "100% limit" qualification. There is no interview or question for this coming up. What do I do to fix this?
I do not understand this answer. Delete what "$300 in the error check"? I have entered each cash contribution in the Donations to Charity topic. But there is no question for any of the charities to tell that it is qualified for the 100% limit. Are you telling me to delete all these donations that I have put in, and start over? But how would that help?
@thomaswreese Answer Yes to the question "Were any of your donations to a fraternal . . . or other 30% charity?"
Ignore the answer about $300 in the error check. It has nothing to do with your question.
Wow that did the trick – thank you! That is one poorly worded question, since none of my contribution were to 30% limit charities. Thus I always answered No to it. It is quite an obscure way to get into the dialog for designating all these charities to be under the 100% limit instead of only 60%. I hope they can fix the TT software to remove this obscure workaround that is needed now.
After clicking Continue, there is only one question: Whether any of these charities are subject to 30% limit which is uncommon. The trick is that you have to answer Yes to this question, even when none of the charities are subject to the 30% limit. Only then does TT2020 (Deluxe download for Mac) allow you to state that each of these charities is subject to the 100% limit rather than the 60% default. This is a defect in the TT software. I would not have found this obscure workaround if it had not been pointed out by someone else.
You can individually select which donations to Charitable Organizations are still subject to the 60% of AGI limit and which are eligible for the 100% of AGI. I have not tested this but this may be necessary if you still have charitable donations you cannot use in 2020 and want to carryover to next year.
Someone else gave me the way to fix this TT software error. After entering in all the contributions, click Continue. There is a question whether any of these organizations are subject to the 30% limit (and the question says this is rare). Even though the answer to this question is No, you must instead click on the Yes button. Then you get a dialog that lets you choose the deduction limit for each charity donated to, choosing between 60%, 50/100%, and 30%. This is extremely obscure, and I would not have found it without help. I hope that Turbotax fixes this software error.
This is fouled up beyond belief. I've had 4 rejections over charitable donations and no clear feedback. One of my donations involved appreciated stock and cash. I'm guessing I have to mark that as 50% vs 50%/100% as I'm unsure TT is smart enough to know cash is 100% and appreciated property is 50%. I'm guessing this fifth efile will be rejected and I'll be filing by paper.
Of course there are "no errors" when TT runs its prefile scan.
Worst TT experience in 20 years.
Yes. There is an issue with the contributions deduction and TurboTax is working to fix it. We do not have an estimated date of correction, at this time. I suggest you check back often to see if the correction has been made.
There is a problem with the Contributions section of the Itemized deductions and also the above the line $300.00 deduction. Because of the many changes due to the CARES Act, IRS is still developing the forms and publications on this issue. Last update was January 13th where everything is still in draft. Once IRS finalizes the forms, we will be able to update TurboTax to accurately reflect your Contributions deduction.
Here are some of the changes due to the CARES ACT
The new legislation allows tax deductions on two types of charitable gifts. First, it allows up to $300 given to a qualified charity to be claimed as an above-the-line deduction. After the Tax Cuts and Jobs Act, which went into effect in 2018, increased the standard deduction, many taxpayers had less incentive to donate to charities. Instead, they took the standard deduction and stopped itemizing.
For taxpayers who will itemize deductions, the CARES Act effectively suspends the limit on deductions for cash contributions to public charities for 2020. “That allows indiv
It is March 6th and this is still a problem in TT Deluxe. I tried to force the 100% on the form but then TT changed it back if I edited anything in the interview screens. The only way I was able to resolve this was to answer "Yes" to the 30% question, then I was able to pick the correct percentage for each charity. To the TT peeps: It seems this is a really easy fix in Turbo Tax... just delete the 30% question and go directly to the percentage screen since it would be good to be able to see this information for every donation in 2020 anyway.
Kudos to the people who figured out that answering "yes" to the 30% question was the workaround.
The problem is deeper than simply entering the percentages manually. For a given charity, sometimes the total donated amount is the sum of donations including cash donations, mileage, physical goods, and appreciated financial instruments. Unfortunately, only some of those are 100% donations, so it is impossible to pick a single classification for an organization, unless you make multiple entries for those organizations to which you donated both 50/60 items and 100% items.
TurboTax blew it badly this year and the charitable contributions sections needs a total rewrite (and it's too late for that). Oddly this is solved by competing tax softwares.
No, everything is working fine within Turbo Tax. I did a test scenario in my program by entering a donation and I was able to claim 100% of the donation. Several things may cause the discrepancy.
[Edited 03-07-2021|12:17 AM PST]
It depends. What it means that most charitable donation is limited to a person's Adjusted Gross income for the year, usually 60% This year because of COVID 19, the IRS has extended the AGI provision to 100% of the Adjusted Gross Income which is a good thing for Taxpayers. This screen is an information screen attesting to this fact.
Please read this IRS link for further details and read the section as it relates to Qualifying Charitable Organizations.
I'm suffering through this as well--decades of Turbotax use. My issue is appreciated stock to a donor advised fund being entered with basis value only. I can't see TT's underlying logic but on the worksheet it's forcing me to make a 170(B) election which shouldn't apply in this situation. I'm not finding the 30% selection option in my interview; the last screen I get is "use of charity." Upon leaving the section I do get queried on the Charity's address. Does TurboTax do a check of charity status in there someplace?
I'll keep following this discussion for updates but this is really frustrating. Thanks.
It depends. You will enter these as a cash donation and as long as your donation is to a qualified charity, you will be able to deduct up to 100% AGI. IRs has deemed the following aw qualifying charities. Also disregard the questions you are trying to answer regarding Charity address and such. You would only answer this for questions other than cash or stock donations. Since this is a cash donation, you will disregard this section.