There are a couple of points here that may not have been previously addressed.
First, this is an item of tangible personal property that has increased in value. As such, you can deduct the appraised value if the object is being donated to an organization that will put the object to use for its intended purpose. If the organization is going to sell the object to raise funds, you can only deduct your cost basis, which is the amount originally paid for the object either by yourself, or by the person who gave it to you.
Second, because the item has a value over $5000 (using either the current appraisal or the cost basis) you must have a form 8283 signed by the appraiser and by a financially responsible officer of the organization. When you prepare your tax return in TurboTax, you will provide all of the relevant information about the donation and TurboTax will prepare an electronic version of form 8283 that will be submitted when you e-file your return. TurboTax will also instruct you to print a cover sheet and you must mail the cover sheet and the original signed form 8283 within three days of e- filing. Keep copies of the signed form 8283 for your records. Use a mailing service that provides tracking and proof of delivery. The donee organization must sign a statement attesting that if they stop using the object for its intended purpose within three years, they will be required to provide you with a copy of form 8282, and you will have to amend your tax return to remove or reduce the value of the donation.
So between now and tax season, you need to download and print a copy of form 8283, fill in all of the required donation information, and then send it to the organization and to the appraiser for their original signatures.
The form and instructions are here.
https://www.irs.gov/forms-pubs/about-form-8283
This answer has been verified for accuracy by an Intuit expert employee
