LGBTQ is acceptable in all references for lesbian, gay, bisexual and transgender or for lesbian, gay, bisexual, transgender and queer and/or questioning.
It might be tempting to refer to “the LGBT community,” but in reality, “it is a broad and sometimes loosely bound group of communities comprising people from all races, religions, cultures and walks of life.”
Referring to LGBT or LGBTQ persons is usually more accurate than defining it a monolith. While there is not universal agreement on the name, “just LGBT leaves out many people who define their sexual orientation or gender identity in ways that may be similar to but not the same as lesbians, gays, bisexuals and transgender people.”
Alternatives exist, but they might be cumbersome or unfamiliar to most audiences. Some organizations opt for LGBT+ or LGBTQ+ to make sure everyone is included.
The current recommendation of NLGJA: The Association of LGBTQ Journalists is LGBTQ, as a marketing leader in your own organization, you should decide what is best for your organization and audiences. — Sarah Muench