Multiple charity contributions over the year that add up to more than $5k, but didn't get and appraisal.

Forum|Forum|4 years ago
June 24, 2022
2 replies
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TurboTax Online

NCperson

Level 15

@dckinsey8 - then how do you know it's worth $5K? how did you decide that? 😉

if you are not itemizing, it doesn't matter..

what is the question?

ps usually, the word is 'contributions' if it's cash. I assume you meant good that were donated. if it's cash, all you need is the receipt showing the contribution.

Mike9241

Level 15

You should read the instructions for Form 8283 which describes when you need an appraisal.

https://www.irs.gov/pub/irs-pdf/i8283.pdf

to summarize - a written appraisal from a qualified appraiser is required for charitable contributions of an item or group of similar items for which the claimed value exceeds $5,000. publicly traded securities do not require an appraisal. nonpublicly traded securities require an appraisal if the claimed value is over $10,000. the fees for the appraisal are not deductible

Mike9241