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In April of 2019, I opened a charitable account with Schwab with a deposit of $55300.26 in stock. Where do I enter this donation in TurboTax.
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Schwab Charitable is a 501(c)(3) organization, legally able to accept charitable contributions. Because contributions to a Schwab Charitable account receive associated tax benefits, they are irrevocable and legally owned by Schwab Charitable.
Therefore, you enter the amount you contribute to your Schwab Charitable account, not the grants that you may recommend later.
You enter this amount where you would enter other charitable contributions. Do a Search (upper right) for charitable contributions and click on the jump-to result.
As Bsch4477 says above, the contribution of stock will eventually appear on Schedule A.
The amount is a charitable deduction on SchA if you itemize.
Schwab Charitable is a 501(c)(3) organization, legally able to accept charitable contributions. Because contributions to a Schwab Charitable account receive associated tax benefits, they are irrevocable and legally owned by Schwab Charitable.
Therefore, you enter the amount you contribute to your Schwab Charitable account, not the grants that you may recommend later.
You enter this amount where you would enter other charitable contributions. Do a Search (upper right) for charitable contributions and click on the jump-to result.
As Bsch4477 says above, the contribution of stock will eventually appear on Schedule A.
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