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Level 2
posted Mar 14, 2021 1:20:18 PM

TurboTax erroneously assigns 20% Limit to DAF contribution to long-term appreciated public stock

I entered stock donations made to (Fidelity Charitable) a Donor Advised Fund in turbotax and then chose the option to assign the donation as a 30% charity (since DAF contributions are limited to 30% AGI). Turbotax then erroneously places a 20% limit on the donation.

 

I noticed if I keep Fidelity Charitable DAF as a 100%/50% AGI donation, Turbotax properly assigns the donation with the 30% limitation.

 

I am wondering how I should enter this "correctly" and still get the 30% limitation?

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1 Replies
Expert Alumni
Mar 15, 2021 5:38:53 PM

Even if it sounds counter-intuitive, assign it the 100%/50% AGI donation amount so that Turbo Tax properly assigns the donation with the correct 30% limitation.