TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

Gave stock to an Iowa School Tuition Organ, I get a fed donation deduction and a state of IA credit.I don't get to deduct the gift for IA. How do I subtract amount forIA?

Forum|Forum|2 years ago
March 17, 2024
1 reply
0 views

I use TurboTax Premier for the Desktop and live in Iowa

TurboTax Online

Employee

Follow these steps:

As you go through Iowa, when the program ask "Do you qualify for any of these nonrefundable credits?" Select yes.
Select No
Select No
Select the dropdown box, choose your STO
Enter the information.

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

jrhoyaAuthor

These are great instructions on how to claim an Iowa STO credit. However, that isn't my question. If I give $1,000 in appreciated stock to an IA SO, I get a $750 IA credit and can take a $250 Fed charitable deduction. While the $250 is a valid Fed deduction, I can't take that $250 as an IA deduction. So I am asking how do I reduce my IA non-cash, charitable deductions by $250? The software pulls the fed deductions forward to IA return. I need a place to reduce them to the legal amount.

Employee

You need to add the $250 back into your income. You can add it as a nonconformity adjustment to federal income. Follow these steps:

Go back to your Iowa return
Go until you reach You've finished your Iowa Return
Select Income update/revisit/edit
Select the Iowa Nonconformity Adjustment, continue
Any of these? Select No
Continue
Enter description and amount
Continue

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