Deductions & credits

you complete form 8283 section b non-cash contributions to charity. Turbotax should take you through all the info that needs to be supplied. keep that appraisal. it is not attached to the return but the IRS could ask for it at a later date so keep it safe.

you'll also have to find out whether the foundation is a 50%, 30% charity or 20%. because that determines what % of AGI can be offset by the contribution in the current year

 

my guess is that this is a 30% charity

you can use the iRS search tool

https://apps.irs.gov/app/eos/ 

once found click on the name to find a 2 letter deductibility code

PC means it's a 50% charity

POF means it's a private operating foundation 30% limit

PF means private foundation 20% limit

 

you must itemize your deductions

if you itemize and the fair value exceeds the % of AGI listed above the balance is a carryover to future tears.