Form 8283 Noncash Charitable Contributions
INSTRUCTIONS : NONCASH CHARITABLE CONTRIBUTIONS (Form 8283)
Form 8283 is a United States Internal Revenue Service tax form used to report non-cash chartable contributions of over $500 made by an individual or corporate taxpayer. Only use this form for the donation of property, not the donation of time or funds that are cash based.
Form 8283 can be obtained through the I.R.S’ website or by obtaining the documents through a local tax office.
This form is to be submitted along with your regular income tax return, but only if you are claiming on that return more than a $500 deduction for all property given to a charity. Use Section A if the property is valued under $5,000. For items over $5,000, use Section B of this form.
1. State your name and tax identification number at the top of the form. (You social security or corporate tax identifier.)
2. In part I, identify the name and address of each organization in which you donated property. Next to each named organization, you must describe the property donated. If you are including a donated car, you must provide a detailed description of the car including VIN number and mileage.
3. In the next box, you must describe the donation in detail. Provide the dates of transfer, method of donation, donors cost basis, fair market value of the property, and how fair market value was determined. Complete this for each item donated.
4. Part II is to be used if you did not donate a complete interest in the property. This is typically for partial donations of land or title to property that is encumbered or jointly held.
5. If applicable, complete part II providing the name of the property donated, what percentage of ownership was granted, the location of the property, total amount claimed as a deduction in the prior year, and any restrictions attached to the donation.
6. Section B Part I of the Form 8283 is to be used to claim a deduction on the donation of property valued at over $5,000.
7. Section B is to be filled out just the same as Section A, however you must indicate the nature of the property that was donated by checking the appropriate box on line 4.
8. You must certify the Section B donation by signing and dating the form. Likewise, a qualified appraiser must also certify your Section B claims by signing, dating, and providing their information in part III.
9. Finally, the charitable organization must acknowledge receipt of the donated property by certifying the Form 8283 at the very bottom of the form.
10. Once completed, submit the form with your tax returns and retain a copy for your personal records.