What this line means
The date you originally acquired the donated property. For purchased items, this is the purchase date. For inherited property, use the date of the decedent’s death. For items you made or created, use the date the item was completed. The holding period (how long you owned the item) determines whether you deduct at fair market value or at your cost basis.
Does this apply to you?
- You donated property and need to determine whether it was held long-term (over one year) or short-term
- You purchased the donated item and know the acquisition date
- You inherited the donated property and need to use the date of death as the acquisition date
- You created the donated property (artwork, crafts) and use the completion date
Easy to overlook
Short-term property (held one year or less) limits your deduction to cost basis If you bought stock for $1,000 six months ago and it is now worth $3,000, donating it limits your deduction to $1,000 (your basis), not $3,000 (the FMV). For property held more than one year, you deduct the full fair market value. The acquisition date determines which rule applies, making this date critical to your deduction amount. 1 IRS Publication 526 — Charitable Contributions
“Various” is acceptable when you cannot determine the exact date For donated clothing and household items accumulated over time, enter “Various” as the acquisition date. The IRS accepts this for low-value items where pinpointing the exact purchase date is impractical. For high-value items or securities, an exact date is required because the holding period affects the deduction calculation. 2 IRS Form 8283 instructions — Section A
Watch out for this
Omitting the acquisition date entirely. The date determines whether the property was held long-term or short-term, which directly affects the deductible amount. Leaving this blank prevents the IRS from verifying that you used the correct valuation method. For securities, brokerage statements provide the acquisition date. For household items, use your best estimate or “Various.”
Footnotes
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IRS Publication 526, Charitable Contributions, Capital Gain Property. https://www.irs.gov/pub/irs-pdf/p526.pdf ↩
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IRS Form 8283 Instructions, Section A, Column (d). https://www.irs.gov/instructions/i8283 ↩