I donated stock to a charity. Why did Turbo Tax only give me credit for my cost basis many years ago, instead of the actual value of the stock on the date of donation?

[MaryK4]

Capital assets include most items of property you own and use for personal purposes or investment. Examples of capital assets are stocks, bonds, jewelry, coin or stamp collections, and cars or furniture used for personal purposes.  When figuring your deduction for a contribution of capital gain property, you can generally use the fair market value of the property.

However, in certain situations, you must reduce the fair market value by any amount that would have been long-term capital gain if you had sold the property for its fair market value. Generally, this means reducing the fair market value to the property's cost or other basis.

[bcaveney1]

It is a long term holding, and is well below 30% of my AGI.  Why would it be reduced to cost basis only?  Every other website I search from reputable sources suggests that I should be able to deduct the full fair market value of the stock on the date of the donation.  Why is TurboTax only giving me credit for cost basis?  How do I correct this error in my return?  Please cite the IRS Tax Code statute that TurboTax is using to reduce my charitable deduction. 

https://www.forbes.com/sites/brucebrumberg/2020/12/01/stock-donations-7-essentials-to-maximize-your-... 

https://www.schwabcharitable.org/non-cash-assets/public-traded-securities 

https://www.investopedia.com/ask/answers/07/donatestock.asp 

https://www.shakespearewm.com/blog/donating-appreciated-stock-vs-using-a-qualified-charitable-distri... 

https://www.rbcwm-usa.com/resources/file-687728.pdf 

https://www.fidelitycharitable.org/articles/4-reasons-to-donate-stock-to-charity.html#:~:text=You%20.... 

https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-stock-to-charity.html... 

[RaifH]

If your contribution of stock was to a qualified organization, you can get a deduction for the fair market value of the stock at the time of donation up to 30% of your gross income. If you have other charitable deductions of stock, cash, or non-cash items this can further cap your allowable deductions this year. In that case, the remainder is carried forward to future tax years. 

TurboTax takes the larger deduction based on the fair market value or cost basis. If it appears that it is using the cost basis rather than the FMV as the deduction, I would delete your contributions and re-enter them:

1. Go to Federal > Deductions & Credits > Charitable Donations > Donations to Charity in 2021
2. Select your charity and Add stock. 
3. Make sure that you did not retain partial ownership or attach conditions on the donation. Usually the answer on We'd like to check some details about the stock is None of the above.
4. Verify all the information is entered correctly on the next screen.

If your charitable deductions are being limited, that will be indicated on Schedule A.