Charity how to handle

[Kram BergGold]

Client bought $550 worth of items and immediatley gave them to a 501 (c) (3). I have always deducted this kind of gift as cash, not property. The acknowledgement letter he got, does not have a dollar value. I looked it up and the aknowledgement for a property gift does not require an amount but a cash gift does. I probably will put this gfit on Form 8283. Any contrary thoughts? Should all gifts of items bought for the purpose of a donation be treated as property or have I been doing it correctly as cash?

[TAXNJ]

Some suggestions

As you know form 8283 is for all non cash gifts over $500.

[FEDUKE404]

Donated property is cash gift ? ?

Client bought $550 worth of items and immediatley gave them to a 501 (c) (3). I have always deducted this kind of gift as cash, not property. . .

I would personally have a difficult time supporting this position. . .

FE

[TAXNJ]

In addition

See Schedule A line 17

[Kram BergGold]

Thanks

There seems to be agreement to deduct as property. That is cool. Either someone convinced me that when you buy something to donate you treat as cash or I made this up. Thanks

[taxea]

I show it as new on the 8283 and take the total cost.

[TAX4US]

I agree with the property idea since it is property you are giving and not the actual cash for them to spend as they see fit. I think a long time ago there was an either or until the rules got tighten up. Just My thought.