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How to handle donations of over $5000 in total (many items, all < $500).
I have read many entries on this, but none quite address my issue. For the first time since I started using TT, I am getting a message that a donee needs to sign a form 8283. It appears from what others have said, there is a change in the tax law that requires this if the total donation amount exceeds $5000.
1) Is that true, even if it was hundreds of items that TT has 'grouped' into one larger category, where none exceed a value of $500?
2) If I make 2 runs to the same, or even different Goodwill locations on the same day, and donate goods, when I enter them in TT, since they are on the same day, it lumps them into the same 'donation', often resulting in the total exceeding $5000. Is there a way to avoid this?
Just looking for suggestions. If there is a way to have TT treat those as separate donations, is there a way for me to 'split' one donation into 2 in the program, or would I need to remove items from one donation and put them into the other manually?
Thanks!