Donation of securities 8283 -- "how acquired by donor"

Hello --

I donated three securities this year -- two were given to me in 1986 as a bar mitzvah present (yes, I'm old), and one was given last year by relatives as a gift. For each we have listed the appropriate basis. However, column (f) in each row asks "How acquired by donor." In the Form 8283 that Turbotax (desktop) generates, it is listed as "Purchase." However, these were gifted. At no point does Turbotax ask how these items were acquired. Is there a way to change this answer? The worksheet form doesn't seem to provide this information either. Thanks.

1998

1 Best answer

Expert Alumni

Mar 15, 2020 11:53:23 AM

Yes. To revisit this section in TurboTax, follow these steps:

From the left menu, select Federal
From the second tab from the left, Donations & Credits, scroll down to Donations to Charity 2019 and click Edit/Add
- I created this scenario by going through the Item section of the contributions, not Stock, to see the Gift designation. If you started with Stock, I suggest deleting it and re-entering through Items if you prefer to select Gift for Purchase.
Review all your Charities click Edit next to the item to adjust
Review your donations click Edit
The Date of the donation will be listed; Click Continue
The Category of the Donation should be selected; Click Continue
Tell us about the items you gave to charity; Click Done with this Donation
Enter the purchase info for the items you gave to charity; from the drop down menu on How Acquired, Gift is one of the options

It is acceptable in general to report the securities at the fair market value of the property at the time of the gift.

Please see 2019 IRS Publication 551 Basis of Assets page 9, middle column, Property Received as a Gift, to determine if any adjustment is necessary in your circumstances.

Expert Alumni

Mar 15, 2020 11:53:23 AM

Yes. To revisit this section in TurboTax, follow these steps:

From the left menu, select Federal
From the second tab from the left, Donations & Credits, scroll down to Donations to Charity 2019 and click Edit/Add
- I created this scenario by going through the Item section of the contributions, not Stock, to see the Gift designation. If you started with Stock, I suggest deleting it and re-entering through Items if you prefer to select Gift for Purchase.
Review all your Charities click Edit next to the item to adjust
Review your donations click Edit
The Date of the donation will be listed; Click Continue
The Category of the Donation should be selected; Click Continue
Tell us about the items you gave to charity; Click Done with this Donation
Enter the purchase info for the items you gave to charity; from the drop down menu on How Acquired, Gift is one of the options

It is acceptable in general to report the securities at the fair market value of the property at the time of the gift.

Please see 2019 IRS Publication 551 Basis of Assets page 9, middle column, Property Received as a Gift, to determine if any adjustment is necessary in your circumstances.

New Member

Mar 15, 2020 12:12:07 PM

Perfect -- thank you so much for answering the question so rapidly. I really appreciate it.

Expert Alumni

Mar 24, 2020 12:04:01 PM

You're welcome! I am happy to help!

New Member

Sep 30, 2024 12:12:35 AM

I wasn't able to get this method to show a way to override the "how acquired by donor" field. What is the best way to do this in 2024?

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Donation of securities 8283 -- "how acquired by donor"