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posted May 31, 2019 9:38:51 PM

How much can I claim on A donation from my mothers estate to goodwilll which includes items not listed on your form like art work. I was told that if it is under 5000 th

How much can I claim on A donation from my mothers estate to goodwilll which includes items not listed on your form like art work.  I was told that if it is under 5000 that was ok.  The IRS would not question that.  Is this true

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Expert Alumni
May 31, 2019 9:38:53 PM

It's not a guarantee that the IRS would not want to review your return.  At the same time, based on all facts and circumstances, this would not be a reason in and of itself for the IRS to review your return.  The records requirements are shown for you here with a link for more details.  Form 8283 will be required and TurboTax will walk you through this deduction.

Deductions Over $500 but Not Over $5,000

If you claim a deduction over $500 but not over $5,000 for a noncash charitable contribution, you must have the acknowledgment and written records described under Deductions of at Least $250 but Not More Than $500 . Your records must also include:

  • How you got the property, for example, by purchase, gift, bequest, inheritance, or exchange,

  • The approximate date you got the property or, if created, produced, or manufactured by or for you, the approximate date the property was substantially completed, and

  • The cost or other basis, and any adjustments to the basis, of property held less than 12 months and, if available, the cost or other basis of property held 12 months or more. This requirement, however, doesn't apply to publicly traded securities.

If you have reasonable cause for being unable to provide information about the date you got the property or the cost basis of the property, attach a statement of explanation to your return.

To record this deduction in TurboTax Premier follow the steps here.

  • My Account > Tools > Topic Search > Type noncash > Go
  • Continue to follow the screen prompts and entries
  • Click the screenshots attached to enlarge and view for assistance.