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mcolestock
New Member

TurboTax Schedule A pulls donated stock original value from worksheet and not current market value

2017 Schedule A Form has error
1 Best answer

Accepted Solutions
pk
Level 13
Level 13

TurboTax Schedule A pulls donated stock original value from worksheet and not current market value

when you donate an asset, the  donation credit you can take is the lower of your basis ( the price you paid for it )  and Fair Market Value at the time.  Hope this explains TurboTaxes action

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2 Replies
TaxGuyBill
Level 9

TurboTax Schedule A pulls donated stock original value from worksheet and not current market value

Is the current market value higher than the original cost?
Have you had the stock longer than one year?
What "worksheet" are you talking about?  Did you tell TurboTax it was stock that you are donating?
pk
Level 13
Level 13

TurboTax Schedule A pulls donated stock original value from worksheet and not current market value

when you donate an asset, the  donation credit you can take is the lower of your basis ( the price you paid for it )  and Fair Market Value at the time.  Hope this explains TurboTaxes action

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