- When you enter the contribution in TurboTax, you could choose either 'Item' or 'Stock'. If you choose 'item', you can then choose 'stock'.
- If you choose 'stock' initially, you will then be asked to enter the date of the donation, stock symbol, value at date of the donation, date you acquired it and cost basis of the shares. Make sure the date you acquired it is more than one year from the date of the donation.
- You will receive a 30% of adjusted gross income deduction for contribution of appreciated securities held long-term. Any unused deduction can be carried over to future years.
- This tells the IRS and Turbo Tax that this is a Donor Advised Fund contribution.
If you indicate that you had no conditions attached to the donation, this will complete the entry for TurboTax, unless that applies. If so, you'll have additional questions. You can indicate the 'date acquired' as 'Various'. No appraisal is required if the stock is publicly traded.
The new rules for Form 8283 don't allow Efile if your aggregate total of non-cash donations is over 5K.
Here's more detailed info on Form 8283 and discussion on Entering DAF Donations.
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