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Tax question

I need help! So we made a large donation (items, not cash) to a local charity last year. I've documented every item/value so we're good there. I'm putting everything in and since the value is over $500, it's asking me additional questions. The only one I'm confused on, is "Donors Cost". The description says "The basis of property you buy is usually its cost. If you acquire property other than through a purchase, such as inheritance or gift, refer to IRS Publication blah blah blah..." So... Donor cost.. would that be the total value (thrift store value) that we've assigned the items or the value of them when they were new? I'm so confused and I'm over thinking this. Anyone have any ideas?

In Christ alone my hope is found. He is my LIGHT, my STRENGTH, and my SONG!


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T-TTC since Dec 2008. PCOS/nonexistant cycles(anovulation) and endo. HSG in '10 revealed both tubes blocked. Lap surgery in Dec '10 to correct. Failed Clomid/IUI and injectable(Bravelle)/IUI cycles so far.  


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Re: Tax question

  • In our program, it makes us put in the thrift shop value, which then becomes the donation amount.  The Donor Cost sounds like it is the amount you purchased it for.  It is making you put something there?
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  • From what I'm understanding, yes. Since the value is over $500, the IRS requires that info. Calculating that info could be a serious pain in the butt! Turbo Tax didn't require it, but it looks like this one is. I'm not sure if I can just leave it blank. Blah.  (We haven't filed yet, but are just trying a different program to see if we missed something b/c our taxes due were way off from what we expected)

    In Christ alone my hope is found. He is my LIGHT, my STRENGTH, and my SONG!


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    T-TTC since Dec 2008. PCOS/nonexistant cycles(anovulation) and endo. HSG in '10 revealed both tubes blocked. Lap surgery in Dec '10 to correct. Failed Clomid/IUI and injectable(Bravelle)/IUI cycles so far.  


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  • Hmm to me it still sounds like it is wanting to know how much you paid for the items.  Could you just make up a number that is reasonable?
    Anniversary 
    Baby Birthday Ticker Ticker
    ~TTC Buddies with akcrrr and amandaf6383~
    ~Knottie/Nestie Besties with *ecinereb* - Congratulations!~
    TTC since June 2011 dx: PCOS
    Clomid+IUI: Cancelled b/c didn't respond (June 2012)
    Femara+Trigger+IUI #1: BFN :-( (July 2013)
    Natural Cycle (8/7/13)- BFP!  Beta #1 (9/10/13): 509 Progesterone: 18.64  Beta #2 (9/12/13): 1118
    Baby N born 5/9/14
  • Yeah, I am guessing that's what I'm going to have to do. It's going to take FOR.EV.ER. Blah.

    In Christ alone my hope is found. He is my LIGHT, my STRENGTH, and my SONG!


    Image and video hosting by TinyPic Image and video hosting by TinyPic


    T-TTC since Dec 2008. PCOS/nonexistant cycles(anovulation) and endo. HSG in '10 revealed both tubes blocked. Lap surgery in Dec '10 to correct. Failed Clomid/IUI and injectable(Bravelle)/IUI cycles so far.  


    image

  • Sorry :-(  I don't know why it is making you do that, because we can always skip that question as long as we have date of the donation and the thrift shop value.  
    Anniversary 
    Baby Birthday Ticker Ticker
    ~TTC Buddies with akcrrr and amandaf6383~
    ~Knottie/Nestie Besties with *ecinereb* - Congratulations!~
    TTC since June 2011 dx: PCOS
    Clomid+IUI: Cancelled b/c didn't respond (June 2012)
    Femara+Trigger+IUI #1: BFN :-( (July 2013)
    Natural Cycle (8/7/13)- BFP!  Beta #1 (9/10/13): 509 Progesterone: 18.64  Beta #2 (9/12/13): 1118
    Baby N born 5/9/14
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