Entering in donations

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If Its Deductible is discontinued, what is the process to add a donation, select a date of the donation, and enter in each item and its value?

TurboTax Business Windows

Opus 17Answer

Level 15

Expert Reviewed

When you enter the name of the charity, you get a screen where you can select items, money, stocks, or other things. Select items. Give the date of the donation. Choose a category (probably "used clothing and household items"). You can give a slightly more detailed description on the next page, and a valuation method (thrift store prices or comparable sales will usually be most appropriate, depending on the items.) You can summarize your donations for a given day as long as you have your own separate inventory, but you should list different dates individually.

Opus 17

Answer

Level 15

Expert Reviewed

sutherlandwsAuthor

Level 2

Thanks for the response. Each donation consists of dozens of items. And i have at least 15 different donation dates. I am documenting them and the value in an Excel spreadsheet. I know that I cannot import the spreadsheet, but can I copy/paste the item descriptions to save time? Are there any other tricks that could make this process go faster?

Opus 17

Level 15

@sutherlandws wrote:

Thanks for the response. Each donation consists of dozens of items. And i have at least 15 different donation dates. I am documenting them and the value in an Excel spreadsheet. I know that I cannot import the spreadsheet, but can I copy/paste the item descriptions to save time? Are there any other tricks that could make this process go faster?

You will have to enter each of the 15 donation dates individually, but you can include all items as a group on that day with a generic description and a value you assign. You do not need more specific details for your tax return unless the total claimed value is more than $5000.