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dwfordham
New Member

What do you do if the item I donated is worth more than the high value shown in it's deductible?

I'm donating a smart phone to cell phones for soldiers. It's deductible list cell phones as being worth between 16 and 23 dollars.That's a bit low for a smart phone in like new condition

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What do you do if the item I donated is worth more than the high value shown in it's deductible?

You can enter an item as a custom item, where you can value it yourself, as long as you are able to support the value if ever questioned.

The 2 screen images below show how to enter a custom item.

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5 Replies
ebartler
New Member

What do you do if the item I donated is worth more than the high value shown in it's deductible?

Majority of items donated were 905.  Goodwill only recognizes $500.00 on any donations.  

What do you do if the item I donated is worth more than the high value shown in it's deductible?

I don't know anything about Goodwill, but the ItsDeductible program cannot handle any single item worth more than $500.  
A single item valued at over $500 requires additional information and forms present in the TurboTax product during return preparation.

If you have an item worth more than $500, see the rules on reporting and recordkeeping requirements in this IRS Publication 526--Charitable Contributions:
<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p526#en_US_2017_publink1000229844">https://www.irs.gov/publications...>
janecmcg
New Member

What do you do if the item I donated is worth more than the high value shown in it's deductible?

enter it and set your own value

What do you do if the item I donated is worth more than the high value shown in it's deductible?

You can enter an item as a custom item, where you can value it yourself, as long as you are able to support the value if ever questioned.

The 2 screen images below show how to enter a custom item.

ammie7
New Member

What do you do if the item I donated is worth more than the high value shown in it's deductible?

Good ideal to take a photo of the item.
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