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tgmorris
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Donating Abandoned Property

We had a rental home in 2020 where the lessors abandoned a significant amount of property.  The Lessor was a sales agent for a tactical protection company who produces protective gear and tactical equipment for police and other law enforcement agencies.  The Lessor abandoned a significant number of these type of items in our rental home with an estimated value of over $15K.  We donated the items to a local Sheriff's office for distribution to their officers.  When I attempt to enter this data in TurboTax, it asks for a purchase price (zero), how acquired (gift or inheritance are the closest), but the program will only allow my deduction if I put in a purchase price equal to the value.  Am I not allowed to deduct this sizable donation simply because it was abandoned on my property and not directly purchased by me?

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1 Reply

Donating Abandoned Property

Sorry but you get no deduction since your basis in the abandoned property was zero.  

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