I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

posted

Your basis in the items that you donated is the amount that you are allowed to give. Current value of the items is not the gift amount unless it is the same as what you paid for it.

Here is an excellent article on non-cash gifts to charity.

@leerw1976

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Where in the Turbo Tax forms do I enter the amount of my Charitable contributions that I took from my RMD?

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I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

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I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

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I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

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