There are several limits or additional disclosures to consider when deducting property contributions. If your contribution exceeds $500 you must complete form 8283 in addition to claiming the contribution deduction on Schedule A. If the deduction exceeds $5000 than an independent appraisal is needed and form 8283 needs signed by the charity and the appraiser. The deduction may be limited on schedule A to a percentage of your income. Donations fall into several categories including 50%, 30% and 20% categories. These categories limit the donation deduction to the listed percentage of your adjusted gross income for the current year. Any excess donations carryover for the next 5 years and can be deducted against future taxable income but the percentage limitations remain. Your property contribution is limited to the properties fair market value or cost basis (what you paid for it). Typically it's the lower of these two values but certain long term capital gain property allow you to use the higher fair market value.