Can I enter a description of how I determined FMV for publicly traded securities on Form 8283, Section A in PTO?

Forum|Forum|6 years ago
March 30, 2020
1 reply
12 views

Taxpayer contributed $30,000 to Fidelity Charitable Gifts Fund. Apparently the method used to determine FMV should be "Treasury Regulation #20.2031-2". None of the items in the dropdown for that field are accurate (enterred in the UNDER $5,000 screen).

ProConnect Tax Online

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George4Tacks

Level 15

Yes. Here is the header for Section A

Section A. Donated Property of $5,000 or Less and Publicly Traded Securities—List in this section only an item (or groups of similar items) for which you claimed a deduction of $5,000 or less. Also list publicly traded securities and certain other
property even if the deduction is more than $5,000 (see instructions).

Answers are easy. Questions are hard!

B

bethteeterAuthor

Level 2

Thank you, but I'm looking to get into the field for column (i) of Section A, Part 1, Line A, "Method used to determine the FMV". The input screen gives me four options: Appraisal, Thrift Shop Value, Catalog, or Comparable Sales. None of those are correct. The valuation is FMV on the stock exchange on the date of the contribution. How do I get that onto the form?

J

jlpcpa

Level 2

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