I just went through the process of figuring out how to enter the information for a CRT/CRUT created from donating real property to the trust, using the TurboTax Home and Business edition, with a lot of help from TurboTax support. The steps are a little different from what DaveF1006 described in my case.
I admit this approach DOES NOT fill in Part II (Partial Interests and Restricted Use Property) of Form 8283. I honestly don't know if that is an issue or not for the IRS. Since you're going to file a signed paper copy of the 8283 after filing electronically, you could possibly check the appropriate box on the paper form.
Note: You MUST enter all information in Step-By-Step mode only!
1. Start with Add Another Charity on the Charities screen, and fill in the charity name, which would be the name of your trust
2. Select "Items" for What Did You Donate?
3. Choose I'll Value Them on the next screen
4. For Date of Donation, enter the date the real property was transferred to the trust
5. For Choose a Category for This Donation, select "Other intangible property"
6. For Tell us about the items you gave to <charity name>, enter a Description; enter the calculated value of your deduction (not the appraised value) for Value, and select "Present value" for Method Used to Determine Value
7. For Purchase Price, enter 0. The reason for this is that if you enter the actual basis of the property you donated, it will typically be larger than the deduction value entered in step 6, which will confuse TurboTax because then it won't look like a Capital Gain
8. For How Acquired, select "Created"
9. For Will your donation be used in direct association with the charity's function?, select No
10. Click DONE. This takes you back to the Review All Your Charities screen.
11. Important: You must select CONTINUE at this point!
12. On the next screen, it will ask you Were any of your donations to a fraternal order, veteran's group, nonprofit cemetery, or other 30% charity? You must select No (unless of course you also contributed to one of these types of organizations as well). At this point it will pop up some helpful text, which it turns out is incorrect: "This means we'll treat all of your donations, up to 100% of your AGI, as eligible." Do not get fooled by this bug in the software; leave your answer No.
13. Click through and enter the address of the Trust
14. On the "One more question" screen, select None of the above. Do this even though it might seem right to select some other options.
15. You can click through and enter the information about your Qualified Appraisal
16. Skip past the questions about Group and Bargain Sale donations
This should do it. You can go to Forms mode and double check your 8283 and Charity Limit 1 forms. On the Charity Limit 1 form, make sure your donation appears in section D of Step 2.
