why do we need to report cost basis for donation of appreciated stock

[phillygirl19106]

I made a donation to fidelity DAF, which provides a form 8283.

they do not list the cost basis and date acquired.

why does turbo tax require this? Isn't the FMV all that is required? if the stock has been held for more than 1 year

I see this was asked last year as well --is this an error in the program.   will this be correcte? 

What the need for Cost Basis information when reporting Stock Donations to Charities? The entire mar...

[AmyC]

If the stock was held short term and you would have had a capital gain if sold instead of donated, that limits your donation amount to the FMV minus unrecognized short term capital gain.

For long term stock, the FMV is used for the donation.

The program needs to know both of these answers to correctly figure the calculation if it is short term. No correction should be made.

See:

 Do I need a receipt? 

IRS Pub 526