Charity Limit Form 1 problem (100% AGI deductions)

Forum|Forum|5 years ago
February 12, 2021
5 replies
43 views

I am seeking help on whether there is an error on Charity Limit Form 1. I am using the Mac download version.

I have designated my charitable giving as 100% AGI, thanks to help from this board.

However, when I look at Charity Limit Form 1, my deductible amount is calculated as half of my AGI. The program then uses charitable carryover amounts to add to the total deductible amount allowed. This error starts on line 39 (of the form), where it sums lines 10, 14, 21 , 27 and 36. All of these lines are blank on the form, but it calculates a value for line 39 that is exactly half of my AGI. (There are no other entires on Charity Limit Form 1, except what is in the 100% AGI section).

This error is then moved to the Charity Contrib form.

Can someone confirm that this is an error in Charity Form 1?

Is it correct that all of my 100% AGI deductions should be taken first, before any carryover?

Any ideas of a workaround for this problem (if it is an error)?

Thanks!

CarissaM

Level 15

Thank you for sharing this information. It is our desire to find a resolution for you and others that might be having a similar experience in the program.

To assist us in this process, please review your entries in AGI. Some errors are caused by accidental entries. If that doesn't work, try to delete the form and re-enter, and also [clear cache and cookies/run updates] However, if this does not resolve your issue, please note the exact message and where you are encountering that message in the program. We will work with you towards a resolution to file your return accurately.

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thegavAuthor

Level 2

Thank you for your message.

There is no error message returned by the program. It appears to be a calculation error.

Once I enter all my Charitable Contributions, and designate them as 100/50% charities, I believe the program is making an error in the handling of these donations (current year) vs carryover. If I go to Charity Limit 2 form, it has included a deduction (for this year) from carryover deductions from previous years, and then limited my current year (100% AGI) deductions by that amount (on Charity Limit 1 form).

My understanding is that I should use all my deductions from the current year in a specific category first, before carryover deductions (Pub 526). If this conclusion is incorrect, then I would appreciate if someone would link to an appropriate IRS document.

Thanks.

WendyN2

Level 9

Yes, here is the link and please try this work-a-round and please also let me know if it worked...

IRS Link For Charitable Contributions

Instead of the full 100% being allowed, some TurboTax customers are incorrectly being limited to 60% on their charitable cash contributions that meet the outlined criteria from the IRS.

Follow these steps to resolve the issue:

Open or continue your return.
Select Personal (or Federal) and then Deductions & Credits.
Scroll down to Charitable Donations and next to Donations to Charity in 2020, select Update/Edit/Revisit.
On the Review All Your Charities screen, select Done with Charitable Donations.
Select Yes on the Donation Limits screen.
Select 100%/50% Charity on all applicable donations and Continue until completed for each donation.
Once complete, line 14 of Schedule A will reflect the appropriate deduction amount.