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L
leerw1976
February 16, 2025
Question

I entered a charitable donation deduction. The amount I can deduct is defaulting to the cost basis instead of the value of the donation. Why? Am I doing something wrong?

  • February 16, 2025
  • 1 reply
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    1 reply

    R
    RobertB4444
    February 21, 2025

    Your basis in the items that you donated is the amount that you are allowed to give.  Current value of the items is not the gift amount unless it is the same as what you paid for it.

     

    Here is an excellent article on non-cash gifts to charity.

     

    @leerw1976 

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