Question

1040/1040SR Wks:Charitable contributions:Charitable contributions has unacceptable value.I entered the value they are telling me to enter and its still getting hung up.

Forum|Forum|5 years ago
March 3, 2021
1 reply
0 views

It says to enter the small of the cash contributions made or $300 on like 10b if you take the standard deduction. I entered the 300 and its still rejecting it.

TurboTax Deluxe Online

C

Cynthiad66

There is an issue with the contributions deduction and TurboTax is working to fix it. We do not have an estimated date of correction, at this time. I suggest you check back often to see if the correction has been made.

There is a problem with the Contributions section of the Itemized deductions and also the above the line $300.00 deduction. Because of the many changes due to the CARES Act, IRS is still developing the forms and publications on this issue. Last update was January 13th where everything is still in draft. Once IRS finalizes the forms, we will be able to update TurboTax to accurately reflect your Contributions deduction.

Here are some of the changes due to the CARES ACT

The new legislation allows tax deductions on two types of charitable gifts. First, it allows up to $300 given to a qualified charity to be claimed as an above-the-line deduction. After the Tax Cuts and Jobs Act, which went into effect in 2018, increased the standard deduction, many taxpayers had less incentive to donate to charities. Instead, they took the standard deduction and stopped itemizing.

For taxpayers who will itemize deductions, the CARES Act effectively suspends the limit on deductions for cash contributions to public charities for 2020. “That allows individuals to completely wipe out their AGI, and their tax liability, with a charitable contribution.

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K

kcward69

You need to fix this! I am unable to electronically file my return!!!!

No $$ figure in that spot will correct the problem. Looks like you have been working on this problem for over 2 weeks!!! Paid too much money for this program to have this problem!

J

JamesG1

Perhaps this will be helpful. I am not sure whether you want to claim the deduction or remove the deduction.

If you are in TurboTax Online, the screen Charitable Cash Contributions under CARES Act appears as the end of Deductions & Credits. First you have to pass the screen Based on what you told us, the standard deduction is best for you at the end of Deductions & Credits.

But you have to qualify for the standard deduction before the screen appears. So you may want to change the value of one or more itemized deductions to $1 so that you qualify for the standard deduction.

Follow these steps:

At the top of the screen, click on Deductions & Credits.
Scroll to the bottom of the page and click on Wrap up tax breaks.
Continue through several screens.
At the screen Based on what you told us, the standard deduction is best for you, click Continue.
At the screen Any Charitable Cash Contributions? delete the dollar amount.
Continue through Federal Review to make sure that things look correct.
Then restore your itemized deductions dollar amounts.