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Level 2
March 13, 2021
Solved

Charitable Donations

  • March 13, 2021
  • 1 reply
  • 15 views

Item 4 of "Charitable Organization Questions" of TurboTax "Charitable Organization Worksheet", asks that the type of organization be checked:  a, b, and c options are included.  What is the basis for these options and what is the impact of the options chosen?

    Best answer by npierson777

    The choice A, B and C normally refers to what percentage of your income you can defer with the charitable donation. It doesn't impact your 2020 tax return, since the IRS allows to deduct charitable donations up to 100% of your AGI in 2020. You can choose any of them. 

    1 reply

    Level 10
    March 13, 2021

    The choice A, B and C normally refers to what percentage of your income you can defer with the charitable donation. It doesn't impact your 2020 tax return, since the IRS allows to deduct charitable donations up to 100% of your AGI in 2020. You can choose any of them. 

    RoyDAuthor
    Level 2
    March 13, 2021

    That was quick and helpful. thanks