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Where do I enter a donation to a Schwab Charitable Account?

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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Accepted Solutions
BillM223
Expert Alumni

Where do I enter a donation to a Schwab Charitable Account?

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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2 Replies

Where do I enter a donation to a Schwab Charitable Account?

The amount is a charitable deduction on SchA if you itemize. 

BillM223
Expert Alumni

Where do I enter a donation to a Schwab Charitable Account?

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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