@Salocin411 wrote:
RE --- I understand the answer but I still cannot enter the deduction in "It's Deductible". I get an error message that says the amount must be less than $500. How do I enter my deduction?
I too would like assistance as I cannot enter more than $500 is there a workaround? Also is the 500-5000 a cumulative number? For example I have donated several times during the year, each time getting a receipt from GOODWILL with items ranging from just $60.00 but all may include items like an old laptop and a robot vacuum. Would entering several receipts from different dates .... say $290,$111,$550,$680,$28,$444 that would total $2103 all all donations periods, each with their own receipts from goodwill. Would that be accepted by the IRS?
For a donation with a value over $500 you won't use ItsDeductible, enter it manually instead. Enter the information requested (date, original cost, when acquired, condition, market value, etc.). For description, enter "used clothes" or something similar. You don't need to itemize the clothing items on your tax return (but you do need an itemized list as part of your tax records in case of audit).
When your total deduction for non-cash items is over $500, you must include form 8283 with your tax return. Turbotax will do this for you automatically. It should be no problem to list donations on various days that are different amounts that total more than $500. It's just that the ItsDeductible module has a $500 per donation limit for other reasons.
Where you will have a problem is if your total non-cash donations are more than $5000. The can trigger a requirement for an appraisal and signatures.
