TurboTax Support

Donation Cost and Cost Basis not entered but there is a number for it

I didn't enter the Donation Cost and Cost Basis, but the program shows a number for it.

When entering a household item under $500, the program calculates a cost basis for you automatically. This is based on how items typically depreciate over time. -- usually about 2.5 times the donated amount

TurboTax calculates this amount for you automatically then places it on the Donation Cost and Cost Basis lines.  For items that do not fall into this category, the program prompts you to enter the cost basis or purchase price manually.

Did This Article Answer Your Question?
Did this article answer your question?
Your Feedback
Cancel Submit
Contact Us