For tax year 2019 I added to my existing Schwab Charitable Account. Schwab sent me the FMV of the appreciated stock. I entered the amount ($10,883) in the itemized deduction schedule. Upon completion of my return, I ran the final review. TurboTax Deluxe found no errors. However, I can find no trace of IRS Form 8283. Is it no longer required?
You'll need to sign in or create an account to connect with an expert.
No, Form 8283 is still required. You are correct. To confirm if Form 8283 is in your return, I suggest checking your downloaded PDF.
To get the download, here are the steps:
For donor advised funds do not identify the contribution as stock, but as an item if you retained any control or attached conditions to the donations. Instead of entering the stock as stock, select Items in the interview to provide additional details.
To access your charitable donations area, follow these steps:
To delete a prior entry, the steps are below:
Click the link for IRS Publication 526 Charitable Contributions beginning on page 12 for Capital Gain Property that has increased in value.
Other scenarios where a Form 8283 would not be required even though a noncash donation was made, may apply to you in the future, but do not appear to apply regarding your Charitable Account donation currently.
Your response did not give me a conclusive answer to my concerns about IRS Form 8283.
I established my Charitable Account in 2015. I have used TurboTax for nearly 20 years with no problems – my returns have always been promptly accepted by the IRS.
For tax year 2019, I contributed appreciated stock with an FMV in excess of $5,000.
I am disappointed that TurboTax did not generate any instructions for form 8283.
I have reviewed the official IRS Forms site and learned that for my 2019 return I must submit an 8283 via mail within 3 days after filing my 1040. The instructions are very confusing.
Is this a ruse by TurboTax to induce me to upgrade to Premier?
tlmna
The software will not create a 8283 if you did not itemize on Sch A and took the standard deduction. Turbo tax might have charged you extra (premier) to look to see if you could itemize. I mean they did do all the work of itemizing, it was just better for you to take the standard deduction.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
karlameyer
Level 1
dimi1927
Level 3
rgrcpa1
New Member
codysmithers53
New Member
sib7771
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.