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February 14, 2022
Question

Charitable Contribution Limits

  • February 14, 2022
  • 1 reply
  • 0 views

My federal E-filing was rejected because Schedule A Line 11 + 12 does not equal Line 14. This is because I gave appreciated securities with a value in excess of 30% of AGI. The system correctly moved the excess into a 2022 carryover deduction. It would seem that in this case, Line 11 + 12 shouldn't equal Line 14.

 

How do I adjust the return to make it acceptable?

1 reply

February 15, 2022

If you're using TurboTax Desktop, there is a box you can check on Schedule A in FORMS mode to indicate the 30% capital gain property.

 

 

Click this link for more info on IRC SEC 170(b)(1)(C)(iii) Election for Donations.