Itsdeductible being discontinued.. WHAT???

[RandyM22]

I never had an issue with the valuations being accepted. The ability to import directly to the right forms saved a lot of effort..   I turbo tax wants to make tax time more taxing:(

[tagteam]

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@RandyM22 wrote:

I never had an issue with the valuations being accepted.

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Obviously not, but others have reported issues.

[Anonymous]

The IRS audited my Gifts to Charity several years ago because they came out to an oddly very round number.  I hesitated before turning in my taxes that year since it was a round number, thinking maybe I should drop some item that I had donated so the total wouldn't be a round number with cash donations, mileage, and items donated, but in the end I didn't want to pay more taxes than I should and I thought, "it is what it is".  So it must've been a red flag to the IRS, and they audited my Gifts to Charity.  But I sent the IRS my charity receipts, hand-written tallies of items donated, and ItsDeductible valuations, and the IRS accepted them and gave me a No Change Letter and I was good.  So Turbo Tax discontinuing ItsDeductuble is a huge loss, because now I've not only lost the ability to document my donations all year long to ease up preparing my taxes during crunch time, but also have lost the peace of mind it gave me as a guard against winning an audit.  I really hope Turbo Tax reconsiders this foolish, poorly timed business decision, and all of the lost customers and therefore lost income they will lose with this cost cutting measure.

[brian3i]

I have never had my charity deductions questioned by the IRS and I have been using It's Deductible for years.  The only time have ever been audited was for a totally different issue and it was rapidly resolved by providing some additional information through Tax Audit Defense.  

[Fairfax_George]

While Mint may say that it categorizes monetary donations, I'm constantly purchasing non-perishable food items for donations ~3x week to a roadside food bank. 

And it's not even clear that Mint's donations can be imported (I don't recall that option last year, and am not on the computer now that has my copy of Turbotax).

To say the least, this sucks.

[Critter-3]

Things you buy that do not depreciate are treated like cash donations ... if you are ever audited the fact you have a cash receipt and the donation slip within a short time period would support the "cash" donation.  

[tagteam]

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@Fairfax_George wrote:

And it's not even clear that Mint's donations can be imported......

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There is currently no import feature, but that can change.

[JimGr]

<sarcasm>

Import of Mint into TurboTax will probably be implemented quickly to demonstrate an ongoing commitment to stellar customer service.

</sarcasm>

I can't even envision a reason why anyone would want to import Mint account aggregation data into TurboTax.

[tagteam]

Of course I meant importing donation data and not everything else.

[JimGr]

tagteam:

Sorry - of course I wouldn't have assumed otherwise. I doubt that Mint data can be imported into TurboTax and, even if it could, it wouldn't address what is probably the primary value of ItsDeductible for importing non-cash donations.

[tagteam]

My primary point is, and has been, that there is always the possibility that the developers will include some, or all, of the functionality of ItsDeductible into Mint.

[richoom]

Just switch to H&R Block with Deduction Pro!

[tagteam]

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@richoom wrote:

Just switch to H&R Block with Deduction Pro!

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The editions for the 2022 tax year have not yet been released. 

Did you purchase a version for the 2021 tax year?

[Hoov]

When I log into itsdeductible, it has tabs for the different tax years--2022, 2021, and 2020.  Beginning with 2022, I began entering my item and money donations only to find out that mid June, I was only able to click on the blue "View Summaries" where I was able to get a pdf that contained the amounts and addresses of all of my donations.  No ability to upload it to TT.

[tagteam]

I agree with the sentiment; it is unfortunate that the decision was made to discontinue the product well after the start of the current tax year.