2021 Turbo Tax - reducing $600 charitable to $300
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2021 Turbo Tax - reducing $600 charitable to $300
Guessing this is due to the 2021 Form 1040 not being final yet in Turbo Tax (as of today, 1/23/2022), but wondering if anyone else is seeing this problem or am I missing something -
We're filing MFJ, taking the standard deduction, but the $600 I entered in the Charitable Donations page is being reduced to $300 on the 1040, line 12b
We're filing MFJ, taking the standard deduction, but the $600 I entered in the Charitable Donations page is being reduced to $300 on the 1040, line 12b
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
The Tax Year 2021 1040 instructions for line 12b say $600 MFJ. The line did move from last year; TT may not have caught up.
- Steelersfan
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
I'm single. I entered my $295 in charitable deductions in TurboTax, it calculated the deduction correctly and carried it to my 1040.
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
The 2021 Form 1040 is final at the IRS.startwithtruth wrote: ↑Sun Jan 23, 2022 6:23 pm Guessing this is due to the 2021 Form 1040 not being final yet in Turbo Tax (as of today, 1/23/2022), but wondering if anyone else is seeing this problem or am I missing something -
We're filing MFJ, taking the standard deduction, but the $600 I entered in the Charitable Donations page is being reduced to $300 on the 1040, line 12b
Turbo Tax is wrong. The MFJ limit for line 12b is $600.
It's an obvious error which probably affects a lot of customers so they should correct it pretty quickly. I'd keep checking for updates until it's fixed.
Re: 2021 Turbo Tax - reducing $600 charitable to $300
Mine is correct ($600 on line 12b) using latest TT update. I'd start by double checking the data entry.startwithtruth wrote: ↑Sun Jan 23, 2022 6:23 pm
We're filing MFJ, taking the standard deduction, but the $600 I entered in the Charitable Donations page is being reduced to $300 on the 1040, line 12b
- willthrill81
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
I just completed our return in Tax Free USA today, and it correctly shows $600 for the charitable deduction.
The Sensible Steward
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
Thanks all, I'll watch for Turbo Tax to fix.
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
quietseas, just saw your post, thanks; checking for revisions didn't fix it, but deleting/re-adding my donations, and clicking on the Review tab did the trick. Maybe I only needed to click on Review, hard to say.quietseas wrote: ↑Sun Jan 23, 2022 9:10 pmMine is correct ($600 on line 12b) using latest TT update. I'd start by double checking the data entry.startwithtruth wrote: ↑Sun Jan 23, 2022 6:23 pm
We're filing MFJ, taking the standard deduction, but the $600 I entered in the Charitable Donations page is being reduced to $300 on the 1040, line 12b
Re: 2021 Turbo Tax - reducing $600 charitable to $300
Did you check the form view to see if it was being entered correctly there? I was pulling my hair out because the interview questions were saying I didn't qualify for the Saver's Credit when I knew I should have. I was reading up everything trying to figure out why I was given the "we're sorry" message, when I decided to check the form and lo and behold the credit was applied there even though it wasn't called out anywhere else like in the summation page.
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
Yes, I’ve checked and deleted/re-entered the $600 in charitable contributions, multiple times.
I thought the problem was fixed when I first re-entered the donations and then hit review; but, when I pass the point where TT is checking for errors, the 1040 line 12b reverts back to $300 and my refund is reduced again.
Re: 2021 Turbo Tax - reducing $600 charitable to $300
Try the following:
Click "done with income" at the bottom of the Wage and Income tab and answer any additional questions.
After that click "done with deductions" at the bottom of the "Deductions and Credits" interview tab and answer any additional questions.
After that click on "Done with Other" at the bottom of the "Other Tax Situations" tab and answer any additional questions
After that in Forms view review your Charitable Org worksheets and 1040 Worksheet for Line 12 to see if anything looks off. If you see something off drill down into the data source and see if you can find what is off.
Click "done with income" at the bottom of the Wage and Income tab and answer any additional questions.
After that click "done with deductions" at the bottom of the "Deductions and Credits" interview tab and answer any additional questions.
After that click on "Done with Other" at the bottom of the "Other Tax Situations" tab and answer any additional questions
After that in Forms view review your Charitable Org worksheets and 1040 Worksheet for Line 12 to see if anything looks off. If you see something off drill down into the data source and see if you can find what is off.
Re: 2021 Turbo Tax - reducing $600 charitable to $300
Also found this:
https://ttlc.intuit.com/community/accou ... 00/2198954
It's a little different than what you describe but maybe it will help.
https://ttlc.intuit.com/community/accou ... 00/2198954
It's a little different than what you describe but maybe it will help.
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Re: 2021 Turbo Tax - reducing $600 charitable to $300
Thanks, although I didn't make any changes, clicking "Done with Other" did trigger recalculating my refund correctly so that it reflects the $600 donations. Hopefully it'll stay fixedquietseas wrote: ↑Mon Jan 24, 2022 8:46 am Try the following:
Click "done with income" at the bottom of the Wage and Income tab and answer any additional questions.
After that click "done with deductions" at the bottom of the "Deductions and Credits" interview tab and answer any additional questions.
After that click on "Done with Other" at the bottom of the "Other Tax Situations" tab and answer any additional questions
After that in Forms view review your Charitable Org worksheets and 1040 Worksheet for Line 12 to see if anything looks off. If you see something off drill down into the data source and see if you can find what is off.