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You can still deduct your tools, even if they are not specifically listed on it's deductible. You can either value them yourself (by using the instructions below) or choose other tools that may have similar value. TurboTax, through It's Deductible, only uses what the IRS lists as items, however the list is not inclusive.
To enter your tool donations follow these steps:
1. Go to Federal, select Deductions and Credits, then choose Charitable Donations.
2. Go down the list and select Donations to Charity in 2017. (Do Not choose the Import from It's Deductible online)
3. Answer yes that you want to report a charitable donation.
4. Enter the name of the charity. Choose to Add Items (list includes tools).
5. On the next page, choose the right-hand box, "I'll value them".
6. Enter the date of donation.
7. Select other personal items in the category of items to donate.
8. The following information will be a series of questions regarding your purchase and the value of the vehicle. When entering how you came up with the value of the vehicle, choose either present value or thrift shop value, whichever you think is appropriate for your tools.
You can still deduct your tools, even if they are not specifically listed on it's deductible. You can either value them yourself (by using the instructions below) or choose other tools that may have similar value. TurboTax, through It's Deductible, only uses what the IRS lists as items, however the list is not inclusive.
To enter your tool donations follow these steps:
1. Go to Federal, select Deductions and Credits, then choose Charitable Donations.
2. Go down the list and select Donations to Charity in 2017. (Do Not choose the Import from It's Deductible online)
3. Answer yes that you want to report a charitable donation.
4. Enter the name of the charity. Choose to Add Items (list includes tools).
5. On the next page, choose the right-hand box, "I'll value them".
6. Enter the date of donation.
7. Select other personal items in the category of items to donate.
8. The following information will be a series of questions regarding your purchase and the value of the vehicle. When entering how you came up with the value of the vehicle, choose either present value or thrift shop value, whichever you think is appropriate for your tools.
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