THe value method on 8283 Section A defaults to Comparative Sales when it should be Average Price then i get an error message if i manually change. How do I fix?

Tax rules. Purchased stock is based on comparable sales or FMV. Inherited securities have a step up basis usually. The average price method is to help simplify things.

 

We comply with IRS rules regarding how to determine the fair market value of donated securities based on their acquisition method (purchase vs. inheritance).

 

"Treasury Regulation § 20.2031-2 Valuation of stocks and bonds.

(a) In general. The value of stocks and bonds is the fair market value per share or bond on the applicable valuation date.

(b) Based on selling prices."

 

In other words, Comparative sales. TurboTax doesn't offer any alternative for the method to determine the value because that is the method that is required by the IRS. 

 

@slcfan 

 

 

Thanks, that is useful.  The DAF sponsor used the term average daily price but if that the same as Comparitive Sales with the IRS, perfect!