https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283 Style Advice for Fashion Lovers en-US Tue, 21 Apr 2026 03:36:21 +0000 http://bbpress.org/?v=1.0.2 q https://youlookfab.com/welookfab/search.php https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694820 Wed, 15 Aug 2012 23:48:33 +0000 DonnaF 694820@https://youlookfab.com/welookfab/ <p>Gotta remember to RTFM!!! (read the --ing manual). The instructions say that you don't have to fill in the cost if the property has been held for over a year, but mentioned that you are expected to keep records, presumably if audited. My estimate for each friggin item was within the Salvation Army donation guidelines available online since nothing was designer and everything was in excellent shape. </p> <p>I will try to keep the Goodwill donations below $5,000 this year so it doesn't trigger even more paperwork. Only one closet has been emptied, over six more to go. . . </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694817 Wed, 15 Aug 2012 23:44:56 +0000 Mellllls 694817@https://youlookfab.com/welookfab/ <p>i second turbotax or contact your return preparer. </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694814 Wed, 15 Aug 2012 23:42:25 +0000 Jjsloane 694814@https://youlookfab.com/welookfab/ <p>I use the it's deductible valuation in turbo tax. I keep a spreadsheet of how many items of each type of clothing etc. I include in each donation and then just check them off on the form and it calculates. </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694746 Wed, 15 Aug 2012 22:36:58 +0000 MsMary 694746@https://youlookfab.com/welookfab/ <p>I would just guesstimate. </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694482 Wed, 15 Aug 2012 19:09:12 +0000 Anonymous 694482@https://youlookfab.com/welookfab/ <p>Here are the instructions for IRS Form 8283. It is quite a complex determination. There are tables that you can look up.</p> <p><a href="http://www.irs.gov/pub/irs-pdf/i8283.pdf" rel="nofollow">http://www.irs.gov/pub/irs-pdf/i8283.pdf</a></p> <p>The easiest way to do it is with Tax software. Do you have turbo Tax? There is a portion of the software called mydeductible, that will calculate either cost or adjusted basis. You can get a copy for free. See link.<br /> <a href="http://www.turbotax.com/lp/ty11/ppc/trusted-free-tax.jsp?cid=ppc_gg_b_stan_dk_us_lv-trb-tx-fdrl-fr&#038;adid=19446312588&#038;skw=turbo%20tax%20free%20federal&#038;kw=turbo+tax+free+federal&#038;ven=gg&#038;srqs=1&#038;amp" rel="nofollow">http://www.turbotax.com/lp/ty1.....1&#038;amp</a>;</p> <p>I'm away on business but feel free to PM me. If you provide me with a breakdown I might be able to help you out. </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694474 Wed, 15 Aug 2012 19:04:52 +0000 Anonymous 694474@https://youlookfab.com/welookfab/ <p>Rats. There is a website out there that will help you determine what the IRS will allow for donations on an item by item basis but I can't remember it. But I think you're trying to find out what the original cost was? I would just ballpark it I guess. I can't imagine how else you'd be able to answer that question. </p> https://youlookfab.com/welookfab/topic/ot-donation-bags-totaling-over-500-form-8283#post-694462 Wed, 15 Aug 2012 18:49:30 +0000 DonnaF 694462@https://youlookfab.com/welookfab/ <p>My mom seems never to have heard of purging or spring cleaning, and up until recently the equivalent of approximately seven (7) closets were stuffed with her clothing, not counting the walk-in in her bedroom. I am trying to remove/sneak out at least the clothing from the 1980s &amp; 1990s, stuff two sizes too small, and the rest of my dad's clothing since he died over 17 years ago. She can't take it all to the one bedroom senior residence where she will be moving hopefully later this year. </p> <p>After a thorough inventory, itemization and thrift shop cost estimation, I managed to drop off a carload at Goodwill. Then I reviewed IRS Form 8283 which you have to submit for in-kind donations over $500. The thrift shop value total for these hundreds of items came to over $500. But there is a place on the form which asks for "Donor's cost or adjusted basis." A dozen or two items still had tags, but I have no idea what she paid for the rest. Any ideas on how to complete this? </p>