in [Event] MetLife + TurboTax | Ask the Experts About Your Taxes
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Yes, TurboTax separates your donations by categories (Items, Money, Stock, Mileage and Travel).
If you donated more than $500 of non-cash items, you are asked questions about your donation so that TurboTax can prepare Form 8283 for you, per IRS guidelines.
Here's more info on Reporting Non-Cash Donations.
The first suggested solution does not solve my problem. I went back and tried entering non-cash donations in TurboTax 2023 and it did not show that it had grouped my non-cash donations. My example is as follows.
Who | Date | Cost | FMV | Coins | Guns | Jewelry | Food |
Salvetion Army | Feb-24 | $ 1,400.00 | $ 1,500.00 | x | |||
Fishes | Feb-24 | $ 200.00 | $ 180.00 | x | |||
Goodwil | Mar-24 | $ 1,500.00 | $ 2,000.00 | x | |||
Salvetion Army | Mar-24 | $ 1,000.00 | $ 1,000.00 | x | |||
Salvetion Army | Jul-24 | $ 1,400.00 | $ 1,300.00 | x | |||
Fishes | Aug-24 | $ 1,200.00 | $ 1,200.00 | x | |||
Fishes | Oct-24 | $ 800.00 | $ 1,000.00 | x | |||
Goodwil | Oct-24 | $ 1,000.00 | $ 1,100.00 | x | |||
(totals) | $ 2,400.00 | $ 3,700.00 | $ 2,100.00 | $ 180.00 |
All are 501c3 non-profit organizations.
I have "groups of similar items", as required by IRS 8283 and Pub 526, as "Coin Collection", "Gun Collection", "Jewelry", and "Food". None of the groups have a donation value of over $5,000 so no appraisal is needed. We donated "Coins" to Salvetion Army and Goodwil.
We donated "Guns" to Goodwil, Salvetion Army, and Fishes.
We donated "Jewelry" to Fishes.
We donated "Food" to Fishes.
When I enter this data to TurboTax it generates IRS 8283 forms but no groupings. Only 8283 Section A is required as no item or group of similar items exceeds $5,000. Our State says groups are required and we can not just put everything in one group because then we have a single group of > $5,000.
How do we get TurboTax to generate "groups of similar items" and group values on the forms, while keeping the 8283 form showing 1) who we donated to, 2) date of donation, 3) Donor's cost, 4) FMV, and 5) description of the donated property as required by the 8283 instructions? Is TurboTax 2024 better about this?
To clarify, what state do you live in?
I don't know if it is important which state we live in, since I am talking about filling out Federal form 8283, but we live in Oregon. I have heard that Oregon Department on Revenue is focusing in on non-cash donations but I can't confirm this.
Form 8283 is scheduled to be released and available tomorrow, February 5th.
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