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TurboTax appears to only be transferring the $300 standard Fed Charity deduction to the KY schedule A. How do I correct this to our actual donations?

We donated more than the Federal $300. How do I make a line item change on my State forms that I am itemizing?
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2 Replies
GLMKY
New Member

TurboTax appears to only be transferring the $300 standard Fed Charity deduction to the KY schedule A. How do I correct this to our actual donations?

I have the exact same issue.  Any help from Turbotax?

Cynthiad66
Expert Alumni

TurboTax appears to only be transferring the $300 standard Fed Charity deduction to the KY schedule A. How do I correct this to our actual donations?

Your contributions should flow from the federal to the state.  Most states do have an option to enter the contributions separately.  There is an issue with the contributions deduction and TurboTax is working to fix it.  We do not have an estimated date of correction.  I suggest you check back often to see if the correction has been made.

 

Yes.  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 individuals to completely wipe out their AGI, and their tax liability, with a charitable contribution.

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