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Level 1
posted Aug 21, 2020 1:06:25 PM

How Can I enter line item donations I have made in 2020 now so that I can access the file later when I do my TurboTax filing for state and fed?

I've used TurboTax and It's Deductible and I'd like to get this detail work done ahead of time if possible.
I thought I read somewhere that it can be done but see no info to guide me.

0 4 633
4 Replies
Level 15
Aug 21, 2020 1:17:49 PM

You can import the charitable donations made in 2020 from ItsDeductible into TurboTax 2020 when you file the 2020 tax return next year in 2021.

Go to this website for ItsDeductible - https://turbotax.intuit.com/personal-taxes/itsdeductible/

Level 15
Aug 21, 2020 1:17:49 PM

https://turbotax.intuit.com/personal-taxes/itsdeductible/

 

Returning Member
Oct 26, 2020 8:47:14 AM

Hi - Can you verify that for Tax Year 2020 deductions may be as great as 100% of AGI, please? Do deductions have to be made by EOY 2020? Thanks.

Level 15
Oct 26, 2020 9:41:58 AM

@Bax35 wrote:

Hi - Can you verify that for Tax Year 2020 deductions may be as great as 100% of AGI, please? Do deductions have to be made by EOY 2020? Thanks.

Cash donations may be deducted up to 100% of AGI.  The usual limits apply to non-cash donations.

https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions

 

Donations must be made in calendar year 2020, there has been no change to the provisions that donations are treated as of the date they are actually paid.