Hi Folks, This is a really difficult question. My dad was kind enough to put some stock in my name in the 80's in a custodial account. i've been paying taxes on the dividends for 40 years. i donated that stock to a charity in 2023. My questions are the following:
(1) Form 8283 asks "How acquired by donor" Was this acquired via gift or purchase?
(2) If gift, turbotax does not give me the option of entering gift, only purchase. How do i enter it as a gift?
(3) Is my deduction the value of the stock when donated or the value of the stock when my dad bought it in my name back in the 80s?
Thank you so much for your help. i've asked some difficult questions in the past and so grateful for the help i've received.
